.Representative imageBeauty and also individual treatment firm Honasa Individual-- the parent entity of Mamaearth-- is actually terminating its own ayurvedic appeal label Ayuga.In a profits presentation on Friday, Honasa Individual stated it might certainly not develop a product-market fit and also started sunsetting the brand from June this year.Following the discontinuation of Ayuga, Honasa Buyer will possess six brand names in its profile-- Mamaearth, its largest label, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the business sells colour cosmetics products.Honasa Consumer mentioned a 19% year-on-year increase in operating revenue for the April-June duration to Rs 554 crore, while web revenue increased 62% on year to Rs 40 crore.In the discussion, Honasa said Ayuga was released to offer ayurvedic charm products in present day formats for Indian millennials back in December 2021. The brand was actually revamped pair of years later on, based on consumer feedback, it added.However, the company fell short to receive any sort of grip regardless of the changes. Ayuga was actually an online just brand.Other new-age companies in the ayurveda-focused appeal as well as individual care space consist of Optimal XV Partners and Fireplace Ventures-backed Nathabit, Second Sight Ventures-backed The Ayurveda Company, and also Vertex Ventures-backed Kapiva.Nathabit has reportedly intercrossed an annualised income cost of Rs one hundred crore in FY24, while Kapiva stated Rs 114 crore in operating revenue in FY23.
Released On Aug 10, 2024 at 01:18 PM IST.
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