.Agent imageBeauty and individual care firm Honasa Consumer-- the moms and dad facility of Mamaearth-- is terminating its ayurvedic charm company Ayuga.In an earnings discussion on Friday, Honasa Customer mentioned it might not establish a product-market match and also began sunsetting the label coming from June this year.Following the discontinuation of Ayuga, Honasa Individual will definitely have 6 brand names in its own portfolio-- Mamaearth, its biggest brand name, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the firm markets colour cosmetics products.Honasa Buyer disclosed a 19% year-on-year increase in operating revenue for the April-June time period to Rs 554 crore, while web earnings climbed 62% on year to Rs 40 crore.In the discussion, Honasa mentioned Ayuga was introduced to launch ayurvedic elegance products in modern-day formats for Indian millennials back in December 2021. The brand name was actually revamped pair of years eventually, based upon customer feedback, it added.However, the brand name neglected to get any type of traction even with the improvements. Ayuga was actually an online only brand.Other new-age brands in the ayurveda-focused appeal and personal treatment space consist of Optimal XV Allies and Fireside Ventures-backed Nathabit, Clairvoyance Ventures-backed The Ayurveda Firm, and Tip Ventures-backed Kapiva.Nathabit has actually reportedly crossed an annualised income rate 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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