.Representative imageBeauty and individual care provider Honasa Consumer-- the parent company of Mamaearth-- is actually discontinuing its own ayurvedic appeal brand name Ayuga.In an earnings presentation on Friday, Honasa Buyer said it can not establish a product-market fit and also began sunsetting the company coming from June this year.Following the ending of Ayuga, Honasa Consumer will definitely have six brand names in its own profile-- Mamaearth, its own most extensive label, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the provider sells colour cosmetics products.Honasa Buyer stated a 19% year-on-year boost in operating earnings for the April-June time frame to Rs 554 crore, while internet revenue increased 62% on year to Rs 40 crore.In the discussion, Honasa said Ayuga was actually launched to launch ayurvedic charm products in modern layouts for Indian millennials back in December 2021. The brand was remodelled 2 years later on, based on buyer responses, it added.However, the company failed to get any traction regardless of the improvements. Ayuga was an online just brand.Other new-age brand names in the ayurveda-focused elegance and private care area include Top XV Partners and also Fireside Ventures-backed Nathabit, Sixth Sense Ventures-backed The Ayurveda Provider, and also Vertex Ventures-backed Kapiva.Nathabit has apparently intercrossed an annualised revenue fee of Rs 100 crore in FY24, while Kapiva mentioned Rs 114 crore in operating earnings in FY23.
Released On Aug 10, 2024 at 01:18 PM IST.
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