.Agent imageBeauty as well as private treatment provider Honasa Individual-- the parent entity of Mamaearth-- is actually ceasing its ayurvedic elegance brand name Ayuga.In a revenues presentation on Friday, Honasa Customer said it can not set up a product-market match as well as started sunsetting the company coming from June this year.Following the ending of Ayuga, Honasa Customer are going to have 6 brand names in its portfolio-- Mamaearth, its own largest company, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the firm offers colour cosmetics products.Honasa Customer disclosed a 19% year-on-year rise in operating revenue for the April-June time frame to Rs 554 crore, while internet earnings rose 62% on year to Rs 40 crore.In the presentation, Honasa claimed Ayuga was actually released to offer ayurvedic beauty items in present day layouts for Indian millennials back in December 2021. The label was actually revamped two years eventually, based upon customer responses, it added.However, the label fell short to obtain any kind of traction regardless of the adjustments. Ayuga was actually an online simply brand.Other new-age brands in the ayurveda-focused charm as well as private care area feature Optimal XV Partners as well as Fireside Ventures-backed Nathabit, Intuition Ventures-backed The Ayurveda Company, and also Tip Ventures-backed Kapiva.Nathabit has actually supposedly crossed an annualised revenue price of Rs 100 crore in FY24, while Kapiva reported Rs 114 crore in operating earnings in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
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