.Rep imageBeauty and private treatment business Honasa Consumer-- the moms and dad body of Mamaearth-- is discontinuing its ayurvedic charm label Ayuga.In a profits presentation on Friday, Honasa Customer stated it could possibly certainly not set up a product-market match as well as began sunsetting the brand from June this year.Following the ending of Ayuga, Honasa Customer will definitely have 6 labels in its portfolio-- Mamaearth, its largest brand, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the business offers colour cosmetics products.Honasa Consumer disclosed a 19% year-on-year increase in operating revenue for the April-June period to Rs 554 crore, while internet earnings rose 62% on year to Rs 40 crore.In the discussion, Honasa said Ayuga was released to present ayurvedic beauty products in modern formats for Indian millennials back in December 2021. The brand name was spruced up 2 years later on, based upon individual feedback, it added.However, the company failed to receive any sort of traction regardless of the changes. Ayuga was an online only brand.Other new-age brand names in the ayurveda-focused appeal and also personal treatment room feature Optimal XV Partners and also Fireside Ventures-backed Nathabit, Foreknowledge Ventures-backed The Ayurveda Firm, and also Tip Ventures-backed Kapiva.Nathabit has actually apparently intercrossed an annualised revenue fee of Rs one hundred crore in FY24, while Kapiva stated Rs 114 crore in operating profits in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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