.Rep imageBeauty and also personal care firm Honasa Consumer-- the moms and dad entity of Mamaearth-- is actually terminating its own ayurvedic elegance company Ayuga.In an incomes discussion on Friday, Honasa Customer claimed it can certainly not create a product-market fit and began sunsetting the brand from June this year.Following the discontinuation of Ayuga, Honasa Buyer are going to possess six brand names in its own portfolio-- Mamaearth, its largest brand name, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, as well as Staze, under which the business sells colour cosmetics products.Honasa Customer mentioned a 19% year-on-year rise in operating income for the April-June time period to Rs 554 crore, while web profit rose 62% on year to Rs 40 crore.In the discussion, Honasa mentioned Ayuga was actually launched to introduce ayurvedic charm products in modern-day styles for Indian millennials back in December 2021. The company was actually revamped two years later on, based on consumer feedback, it added.However, the company stopped working to get any traction in spite of the adjustments. Ayuga was actually an online just brand.Other new-age brands in the ayurveda-focused appeal and personal care area feature Top XV Allies as well as Fireside Ventures-backed Nathabit, Intuition Ventures-backed The Ayurveda Business, as well as Tip Ventures-backed Kapiva.Nathabit has apparently crossed an annualised profits rate of Rs 100 crore in FY24, while Kapiva mentioned Rs 114 crore in operating revenue in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
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