.Rep imageBeauty as well as personal treatment firm Honasa Individual-- the parent facility of Mamaearth-- is terminating its own ayurvedic appeal brand name Ayuga.In a revenues presentation on Friday, Honasa Customer said it can not establish a product-market fit as well as began sunsetting the label from June this year.Following the discontinuation of Ayuga, Honasa Buyer will certainly possess six companies in its profile-- Mamaearth, its most extensive brand name, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the business markets colour cosmetics products.Honasa Individual reported a 19% year-on-year increase in operating income for the April-June duration to Rs 554 crore, while web earnings climbed 62% on year to Rs 40 crore.In the presentation, Honasa pointed out Ayuga was actually introduced to introduce ayurvedic beauty products in modern styles for Indian millennials back in December 2021. The brand was revamped two years later on, based upon individual comments, it added.However, the brand neglected to receive any kind of footing despite the changes. Ayuga was actually an online only brand.Other new-age companies in the ayurveda-focused appeal and also personal care room include Top XV Allies and also Fireside Ventures-backed Nathabit, Sixth Sense Ventures-backed The Ayurveda Company, and Tip Ventures-backed Kapiva.Nathabit has apparently intercrossed an annualised revenue cost of Rs one hundred crore in FY24, while Kapiva reported Rs 114 crore in operating revenue in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
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