.Representative imageBeauty and individual treatment company Honasa Customer-- the moms and dad facility of Mamaearth-- is discontinuing its ayurvedic appeal label Ayuga.In an incomes discussion on Friday, Honasa Consumer claimed it could possibly certainly not establish a product-market match and also started sunsetting the company from June this year.Following the discontinuation of Ayuga, Honasa Consumer will have six companies in its profile-- Mamaearth, its own largest label, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, as well as Staze, under which the provider offers colour cosmetics products.Honasa Consumer stated a 19% year-on-year rise in operating revenue for the April-June time frame to Rs 554 crore, while internet earnings rose 62% on year to Rs 40 crore.In the presentation, Honasa mentioned Ayuga was actually introduced to present ayurvedic charm products in modern styles for Indian millennials back in December 2021. The brand name was renewed two years later on, based on individual feedback, it added.However, the brand name neglected to acquire any footing even with the adjustments. Ayuga was actually an online only brand.Other new-age companies in the ayurveda-focused beauty and also personal treatment area include Height XV Partners as well as Fireplace Ventures-backed Nathabit, Intuition Ventures-backed The Ayurveda Firm, and also Vertex Ventures-backed Kapiva.Nathabit has actually supposedly crossed an annualised revenue cost of Rs 100 crore in FY24, while Kapiva reported Rs 114 crore in operating earnings in FY23.
Released On Aug 10, 2024 at 01:18 PM IST.
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