.Agent imageBeauty and personal care company Honasa Customer-- the parent entity of Mamaearth-- is actually discontinuing its own ayurvedic beauty company Ayuga.In a revenues discussion on Friday, Honasa Consumer claimed it might certainly not create a product-market fit as well as started sunsetting the brand coming from June this year.Following the discontinuation of Ayuga, Honasa Customer will certainly have six brands in its profile-- Mamaearth, its biggest label, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, as well as Staze, under which the business markets colour cosmetics products.Honasa Buyer reported a 19% year-on-year rise in operating income for the April-June time frame to Rs 554 crore, while web earnings increased 62% on year to Rs 40 crore.In the discussion, Honasa said Ayuga was introduced to launch ayurvedic charm items in modern-day layouts for Indian millennials back in December 2021. The company was spruced up 2 years later on, based on customer reviews, it added.However, the brand stopped working to get any sort of footing even with the improvements. Ayuga was actually an online merely brand.Other new-age companies in the ayurveda-focused elegance as well as individual care space consist of Optimal XV Allies and Fireplace Ventures-backed Nathabit, Second Sight Ventures-backed The Ayurveda Firm, as well as Tip Ventures-backed Kapiva.Nathabit has actually apparently intercrossed an annualised revenue fee of Rs 100 crore in FY24, while Kapiva disclosed Rs 114 crore in operating income in FY23.
Released On Aug 10, 2024 at 01:18 PM IST.
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