.Rep imageBeauty and personal care company Honasa Buyer-- the parent body of Mamaearth-- is discontinuing its own ayurvedic elegance brand Ayuga.In an earnings discussion on Friday, Honasa Individual mentioned it can certainly not set up a product-market fit as well as began sunsetting the brand coming from June this year.Following the ending of Ayuga, Honasa Individual will certainly have 6 companies in its portfolio-- Mamaearth, its biggest brand name, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the business sells colour cosmetics products.Honasa Consumer mentioned a 19% year-on-year rise in operating revenue for the April-June time period to Rs 554 crore, while net profit rose 62% on year to Rs 40 crore.In the discussion, Honasa stated Ayuga was launched to launch ayurvedic appeal products in contemporary formats for Indian millennials back in December 2021. The company was revamped 2 years eventually, based on buyer reviews, it added.However, the label stopped working to acquire any kind of footing despite the modifications. Ayuga was actually an online merely brand.Other new-age brand names in the ayurveda-focused beauty as well as individual treatment space consist of Top XV Partners as well as Fireplace Ventures-backed Nathabit, Second Sight Ventures-backed The Ayurveda Company, and Vertex Ventures-backed Kapiva.Nathabit has actually supposedly crossed an annualised earnings rate of Rs one hundred crore in FY24, while Kapiva reported Rs 114 crore in operating revenue in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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