.Agent imageBeauty and individual treatment company Honasa Buyer-- the moms and dad entity of Mamaearth-- is actually discontinuing its ayurvedic elegance label Ayuga.In a profits discussion on Friday, Honasa Buyer said it might not set up a product-market match and started sunsetting the company coming from June this year.Following the ending of Ayuga, Honasa Customer are going to possess 6 labels in its own portfolio-- Mamaearth, its biggest label, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the company offers colour cosmetics products.Honasa Consumer reported a 19% year-on-year rise in operating profits for the April-June time frame to Rs 554 crore, while net revenue rose 62% on year to Rs 40 crore.In the presentation, Honasa mentioned Ayuga was actually released to offer ayurvedic beauty items in present day styles for Indian millennials back in December 2021. The brand name was actually overhauled pair of years later on, based on buyer feedback, it added.However, the brand name stopped working to get any kind of footing even with the improvements. Ayuga was an online just brand.Other new-age brands in the ayurveda-focused appeal and individual treatment area feature Peak XV Partners as well as Fireplace Ventures-backed Nathabit, Extrasensory Perception Ventures-backed The Ayurveda Firm, and also Tip Ventures-backed Kapiva.Nathabit has reportedly intercrossed an annualised revenue price of Rs 100 crore in FY24, while Kapiva stated Rs 114 crore in operating profits in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
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