.Representative imageBeauty as well as private care firm Honasa Individual-- the parent entity of Mamaearth-- is actually terminating its own ayurvedic elegance company Ayuga.In a revenues presentation on Friday, Honasa Consumer claimed it could not develop a product-market match and also began sunsetting the brand coming from June this year.Following the ending of Ayuga, Honasa Individual will have six brands in its profile-- Mamaearth, its own biggest company, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the provider offers colour cosmetics products.Honasa Individual reported a 19% year-on-year boost in operating revenue for the April-June duration to Rs 554 crore, while net revenue climbed 62% on year to Rs 40 crore.In the discussion, Honasa mentioned Ayuga was actually launched to offer ayurvedic appeal items in contemporary styles for Indian millennials back in December 2021. The brand was spruced up pair of years later, based upon customer comments, it added.However, the label failed to acquire any traction regardless of the changes. Ayuga was actually an online simply brand.Other new-age brands in the ayurveda-focused charm and also individual treatment space include Height XV Partners and Fireside Ventures-backed Nathabit, Premonition Ventures-backed The Ayurveda Provider, as well as Tip Ventures-backed Kapiva.Nathabit has actually reportedly intercrossed an annualised income rate 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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