.Representative imageBeauty and also individual treatment business Honasa Consumer-- the parent body of Mamaearth-- is actually terminating its own ayurvedic beauty brand Ayuga.In a revenues discussion on Friday, Honasa Individual claimed it could possibly not create a product-market match and began sunsetting the label from June this year.Following the discontinuation of Ayuga, Honasa Individual will definitely possess six labels in its profile-- Mamaearth, its own largest label, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the firm markets colour cosmetics products.Honasa Consumer disclosed a 19% year-on-year rise in operating revenue for the April-June duration to Rs 554 crore, while web income climbed 62% on year to Rs 40 crore.In the presentation, Honasa stated Ayuga was introduced to present ayurvedic appeal products in modern-day layouts for Indian millennials back in December 2021. The label was revamped pair of years later, based on individual responses, it added.However, the brand stopped working to get any kind of footing in spite of the improvements. Ayuga was actually an online only brand.Other new-age labels in the ayurveda-focused elegance and individual care room feature Height XV Partners and also Fireplace Ventures-backed Nathabit, Perception Ventures-backed The Ayurveda Provider, as well as Tip Ventures-backed Kapiva.Nathabit has apparently crossed an annualised income price of Rs one hundred crore in FY24, while Kapiva mentioned Rs 114 crore in operating revenue in FY23.
Released On Aug 10, 2024 at 01:18 PM IST.
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