.Rep imageBeauty and personal care business Honasa Customer-- the moms and dad facility of Mamaearth-- is discontinuing its own ayurvedic charm label Ayuga.In a profits presentation on Friday, Honasa Consumer claimed it could not develop a product-market match and also began sunsetting the brand coming from June this year.Following the discontinuation of Ayuga, Honasa Individual will have six companies in its collection-- Mamaearth, its own largest brand name, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the firm offers colour cosmetics products.Honasa Customer mentioned a 19% year-on-year boost in operating revenue for the April-June period to Rs 554 crore, while web income increased 62% on year to Rs 40 crore.In the presentation, Honasa said Ayuga was released to offer ayurvedic charm items in modern-day styles for Indian millennials back in December 2021. The label was spruced up two years later on, based on consumer reviews, it added.However, the brand name stopped working to acquire any sort of footing regardless of the adjustments. Ayuga was an online just brand.Other new-age companies in the ayurveda-focused appeal and personal treatment room consist of Peak XV Allies as well as Fireplace Ventures-backed Nathabit, Intuitiveness Ventures-backed The Ayurveda Company, and Tip Ventures-backed Kapiva.Nathabit has supposedly crossed an annualised revenue cost of Rs 100 crore in FY24, while Kapiva mentioned Rs 114 crore in operating earnings in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
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