.Representative imageBeauty as well as personal care firm Honasa Consumer-- the parent company of Mamaearth-- is ceasing its ayurvedic appeal brand name Ayuga.In an incomes discussion on Friday, Honasa Consumer claimed it might not develop a product-market match as well as started sunsetting the company coming from June this year.Following the discontinuation of Ayuga, Honasa Buyer will possess 6 companies in its collection-- Mamaearth, its biggest company, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the company markets colour cosmetics products.Honasa Buyer stated a 19% year-on-year boost in operating revenue for the April-June time frame to Rs 554 crore, while internet profit increased 62% on year to Rs 40 crore.In the presentation, Honasa claimed Ayuga was actually launched to offer ayurvedic appeal items in modern formats for Indian millennials back in December 2021. The brand was overhauled two years eventually, based upon individual comments, it added.However, the label fell short to receive any sort of grip despite the modifications. Ayuga was an online only brand.Other new-age brand names in the ayurveda-focused beauty and private treatment room consist of Peak XV Partners and also Fireplace Ventures-backed Nathabit, Clairvoyance Ventures-backed The Ayurveda Company, and also Vertex Ventures-backed Kapiva.Nathabit has actually apparently crossed an annualised profits fee of Rs one hundred crore in FY24, while Kapiva mentioned Rs 114 crore in operating income in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
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