.Rep imageBeauty and also individual care company Honasa Customer-- the parent body of Mamaearth-- is terminating its own ayurvedic beauty brand Ayuga.In an incomes discussion on Friday, Honasa Buyer mentioned it might certainly not create a product-market match as well as started sunsetting the brand from June this year.Following the discontinuation of Ayuga, Honasa Individual will definitely possess six brand names in its profile-- Mamaearth, its most extensive brand, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the business markets colour cosmetics products.Honasa Consumer mentioned a 19% year-on-year rise in operating revenue for the April-June period to Rs 554 crore, while net income rose 62% on year to Rs 40 crore.In the presentation, Honasa claimed Ayuga was introduced to present ayurvedic beauty items in present day formats for Indian millennials back in December 2021. The company was actually renewed two years later, based on buyer reviews, it added.However, the brand name stopped working to obtain any type of grip despite the changes. Ayuga was actually an online merely brand.Other new-age labels in the ayurveda-focused appeal as well as private treatment room include Top XV Allies and Fireplace Ventures-backed Nathabit, Intuitiveness Ventures-backed The Ayurveda Firm, and Tip Ventures-backed Kapiva.Nathabit has actually apparently crossed an annualised income fee of Rs 100 crore in FY24, while Kapiva mentioned Rs 114 crore in operating revenue in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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