.Agent imageBeauty and private care business Honasa Buyer-- the moms and dad body of Mamaearth-- is actually stopping its own ayurvedic elegance label Ayuga.In a profits discussion on Friday, Honasa Individual claimed it can not develop a product-market fit and also started sunsetting the brand from June this year.Following the discontinuation of Ayuga, Honasa Customer will definitely have six brand names in its own portfolio-- Mamaearth, its largest brand, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the provider offers colour cosmetics products.Honasa Consumer mentioned a 19% year-on-year rise in operating revenue for the April-June period to Rs 554 crore, while net earnings increased 62% on year to Rs 40 crore.In the presentation, Honasa mentioned Ayuga was actually launched to offer ayurvedic elegance products in contemporary layouts for Indian millennials back in December 2021. The brand name was actually remodelled pair of years eventually, based on customer feedback, it added.However, the label stopped working to get any sort of traction regardless of the changes. Ayuga was actually an online simply brand.Other new-age brands in the ayurveda-focused charm and also private treatment area include Height XV Partners and Fireside Ventures-backed Nathabit, Sixth Sense Ventures-backed The Ayurveda Provider, and Tip Ventures-backed Kapiva.Nathabit has reportedly crossed an annualised revenue fee of Rs 100 crore in FY24, while Kapiva disclosed Rs 114 crore in operating income in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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