.Representative imageBeauty and also individual treatment business Honasa Customer-- the parent body of Mamaearth-- is actually terminating its own ayurvedic beauty label Ayuga.In an earnings discussion on Friday, Honasa Consumer said it might not develop a product-market match as well as began sunsetting the company coming from June this year.Following the discontinuation of Ayuga, Honasa Buyer will definitely have 6 brand names in its own profile-- Mamaearth, its most extensive brand name, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the business offers colour cosmetics products.Honasa Customer disclosed a 19% year-on-year increase in operating revenue for the April-June time period to Rs 554 crore, while web profit climbed 62% on year to Rs 40 crore.In the presentation, Honasa said Ayuga was launched to offer ayurvedic elegance products in contemporary layouts for Indian millennials back in December 2021. The brand name was actually renewed 2 years later on, based upon buyer feedback, it added.However, the label fell short to obtain any sort of traction even with the improvements. Ayuga was actually an online just brand.Other new-age labels in the ayurveda-focused appeal and individual treatment room feature Top XV Allies and Fireside Ventures-backed Nathabit, Instinct Ventures-backed The Ayurveda Firm, and Tip Ventures-backed Kapiva.Nathabit has apparently crossed an annualised earnings price of Rs one hundred crore in FY24, while Kapiva mentioned Rs 114 crore in operating revenue in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
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