.Representative imageBeauty and personal care firm Honasa Buyer-- the parent company of Mamaearth-- is actually stopping its ayurvedic appeal brand Ayuga.In a revenues presentation on Friday, Honasa Customer claimed it could not develop a product-market match and also began sunsetting the company from June this year.Following the ending of Ayuga, Honasa Customer are going to possess 6 labels in its profile-- Mamaearth, its largest brand, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, as well as Staze, under which the business sells colour cosmetics products.Honasa Individual reported a 19% year-on-year boost in operating income for the April-June time period to Rs 554 crore, while web revenue increased 62% on year to Rs 40 crore.In the presentation, Honasa stated Ayuga was introduced to launch ayurvedic charm products in present day formats for Indian millennials back in December 2021. The brand was renewed pair of years eventually, based on consumer reviews, it added.However, the brand name neglected to obtain any type of traction regardless of the improvements. Ayuga was an online simply brand.Other new-age brands in the ayurveda-focused charm and personal treatment area include Height XV Partners as well as Fireplace Ventures-backed Nathabit, Intuitiveness Ventures-backed The Ayurveda Firm, and Vertex Ventures-backed Kapiva.Nathabit has actually apparently crossed an annualised earnings price of Rs 100 crore in FY24, while Kapiva mentioned Rs 114 crore in operating income in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
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