.Representative imageBeauty and also individual treatment company Honasa Buyer-- the moms and dad company of Mamaearth-- is actually stopping its own ayurvedic beauty brand name Ayuga.In an earnings presentation on Friday, Honasa Consumer said it might certainly not develop a product-market match as well as started sunsetting the company coming from June this year.Following the ending of Ayuga, Honasa Consumer will definitely possess six companies in its collection-- Mamaearth, its biggest brand name, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the business markets colour cosmetics products.Honasa Buyer stated a 19% year-on-year boost in operating profits for the April-June period to Rs 554 crore, while web income climbed 62% on year to Rs 40 crore.In the presentation, Honasa pointed out Ayuga was actually introduced to present ayurvedic appeal products in contemporary layouts for Indian millennials back in December 2021. The brand was actually revamped two years eventually, based upon customer responses, it added.However, the brand failed to receive any type of footing regardless of the improvements. Ayuga was actually an online just brand.Other new-age labels in the ayurveda-focused elegance and also personal treatment room consist of Peak XV Partners as well as Fireplace Ventures-backed Nathabit, Second Sight Ventures-backed The Ayurveda Provider, and Tip Ventures-backed Kapiva.Nathabit has actually apparently intercrossed an annualised revenue rate of Rs 100 crore in FY24, while Kapiva stated Rs 114 crore in operating income in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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