.Rep imageBeauty and also individual care company Honasa Buyer-- the moms and dad company of Mamaearth-- is actually stopping its own ayurvedic beauty company Ayuga.In an incomes presentation on Friday, Honasa Buyer stated it could certainly not develop a product-market match and started sunsetting the company from June this year.Following the discontinuation of Ayuga, Honasa Consumer will possess 6 brand names in its own portfolio-- Mamaearth, its biggest brand, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, as well as Staze, under which the company markets colour cosmetics products.Honasa Customer disclosed a 19% year-on-year rise in operating profits for the April-June duration to Rs 554 crore, while internet revenue increased 62% on year to Rs 40 crore.In the presentation, Honasa pointed out Ayuga was released to launch ayurvedic beauty products in modern formats for Indian millennials back in December 2021. The brand name was actually spruced up two years later on, based upon individual feedback, it added.However, the label fell short to obtain any kind of grip in spite of the adjustments. Ayuga was actually an online simply brand.Other new-age labels in the ayurveda-focused elegance and individual care space feature Peak XV Allies as well as Fireside Ventures-backed Nathabit, Second Sight Ventures-backed The Ayurveda Provider, and also Tip Ventures-backed Kapiva.Nathabit has apparently crossed an annualised income price of Rs 100 crore in FY24, while Kapiva mentioned Rs 114 crore in operating earnings in FY23.
Released On Aug 10, 2024 at 01:18 PM IST.
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