.Agent imageBeauty and also personal care firm Honasa Consumer-- the moms and dad company of Mamaearth-- is stopping its ayurvedic charm brand name Ayuga.In a revenues discussion on Friday, Honasa Buyer stated it could certainly not establish a product-market match and started sunsetting the brand name coming from June this year.Following the ending of Ayuga, Honasa Consumer will certainly possess 6 labels in its own portfolio-- Mamaearth, its most extensive brand name, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, as well as Staze, under which the firm markets colour cosmetics products.Honasa Customer stated a 19% year-on-year increase in operating revenue for the April-June time frame to Rs 554 crore, while internet income climbed 62% on year to Rs 40 crore.In the discussion, Honasa stated Ayuga was actually introduced to present ayurvedic appeal products in modern formats for Indian millennials back in December 2021. The brand name was overhauled pair of years later, based upon consumer reviews, it added.However, the brand fell short to receive any kind of footing in spite of the adjustments. Ayuga was an online merely brand.Other new-age brand names in the ayurveda-focused beauty and also private treatment area feature Optimal XV Partners and Fireside Ventures-backed Nathabit, Perception Ventures-backed The Ayurveda Business, as well as Tip Ventures-backed Kapiva.Nathabit has actually reportedly crossed an annualised earnings rate of Rs one hundred crore in FY24, while Kapiva disclosed Rs 114 crore in operating profits in FY23.
Released On Aug 10, 2024 at 01:18 PM IST.
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