.Representative imageBeauty and individual treatment company Honasa Buyer-- the moms and dad body of Mamaearth-- is ceasing its own ayurvedic beauty brand Ayuga.In a profits presentation on Friday, Honasa Consumer mentioned it can certainly not establish a product-market fit and also started sunsetting the label from June this year.Following the ending of Ayuga, Honasa Customer will possess 6 companies in its own portfolio-- Mamaearth, its largest label, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the firm markets colour cosmetics products.Honasa Consumer disclosed a 19% year-on-year increase in operating income for the April-June period to Rs 554 crore, while internet earnings climbed 62% on year to Rs 40 crore.In the discussion, Honasa stated Ayuga was launched to launch ayurvedic elegance products in present day styles for Indian millennials back in December 2021. The label was revamped two years later on, based on buyer feedback, it added.However, the company fell short to acquire any sort of grip regardless of the adjustments. Ayuga was actually an online simply brand.Other new-age companies in the ayurveda-focused charm as well as private care room feature Top XV Partners and Fireside Ventures-backed Nathabit, Clairvoyance Ventures-backed The Ayurveda Provider, and also Tip Ventures-backed Kapiva.Nathabit has supposedly crossed an annualised income price of Rs one hundred crore in FY24, while Kapiva stated Rs 114 crore in operating income in FY23.
Released On Aug 10, 2024 at 01:18 PM IST.
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