.Rep imageBeauty and individual treatment firm Honasa Buyer-- the moms and dad facility of Mamaearth-- is stopping its ayurvedic beauty brand name Ayuga.In an earnings discussion on Friday, Honasa Customer stated it could certainly not establish a product-market fit as well as started sunsetting the company from June this year.Following the ending of Ayuga, Honasa Consumer will definitely have six brand names in its own collection-- Mamaearth, its most extensive label, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the firm markets colour cosmetics products.Honasa Consumer stated a 19% year-on-year increase in operating income for the April-June period to Rs 554 crore, while net revenue rose 62% on year to Rs 40 crore.In the presentation, Honasa pointed out Ayuga was introduced to present ayurvedic beauty products in modern formats for Indian millennials back in December 2021. The brand name was actually spruced up two years eventually, based on consumer comments, it added.However, the brand name failed to receive any traction despite the improvements. Ayuga was an online simply brand.Other new-age companies in the ayurveda-focused appeal and also private care room feature Top XV Allies and Fireside Ventures-backed Nathabit, Clairvoyance Ventures-backed The Ayurveda Provider, as well as Vertex Ventures-backed Kapiva.Nathabit has reportedly crossed an annualised income cost of Rs 100 crore in FY24, while Kapiva disclosed Rs 114 crore in operating revenue in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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