.Representative imageBeauty and individual treatment firm Honasa Customer-- the moms and dad company of Mamaearth-- is actually terminating its ayurvedic appeal company Ayuga.In an incomes discussion on Friday, Honasa Customer claimed it could certainly not establish a product-market match as well as started sunsetting the brand name from June this year.Following the ending of Ayuga, Honasa Individual will certainly have 6 brands in its own portfolio-- Mamaearth, its own biggest company, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, as well as Staze, under which the firm offers colour cosmetics products.Honasa Individual mentioned a 19% year-on-year increase in operating profits for the April-June period to Rs 554 crore, while web earnings rose 62% on year to Rs 40 crore.In the discussion, Honasa stated Ayuga was launched to offer ayurvedic beauty products in modern-day styles for Indian millennials back in December 2021. The company was overhauled 2 years later, based upon buyer feedback, it added.However, the brand neglected to acquire any sort of grip even with the improvements. Ayuga was an online only brand.Other new-age brands in the ayurveda-focused elegance and also individual care area include Peak XV Partners and also Fireside Ventures-backed Nathabit, Intuitiveness Ventures-backed The Ayurveda Business, and also Tip Ventures-backed Kapiva.Nathabit has actually reportedly intercrossed an annualised revenue cost of Rs one hundred crore in FY24, while Kapiva stated Rs 114 crore in operating income in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
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