.Rep imageBeauty as well as individual treatment company Honasa Customer-- the parent company of Mamaearth-- is ceasing its ayurvedic elegance brand name Ayuga.In a profits discussion on Friday, Honasa Buyer said it could possibly not develop a product-market fit as well as began sunsetting the brand coming from June this year.Following the ending of Ayuga, Honasa Individual will definitely have 6 labels in its portfolio-- Mamaearth, its own biggest company, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the business offers colour cosmetics products.Honasa Individual reported a 19% year-on-year increase in operating revenue for the April-June duration to Rs 554 crore, while web revenue rose 62% on year to Rs 40 crore.In the discussion, Honasa pointed out Ayuga was introduced to present ayurvedic appeal products in modern formats for Indian millennials back in December 2021. The company was actually revamped two years later, based upon consumer comments, it added.However, the label fell short to acquire any kind of footing despite the adjustments. Ayuga was an online only brand.Other new-age brands in the ayurveda-focused elegance and individual treatment room include Top XV Allies and Fireside Ventures-backed Nathabit, Intuitiveness Ventures-backed The Ayurveda Firm, and Vertex Ventures-backed Kapiva.Nathabit has reportedly intercrossed an annualised revenue cost of Rs 100 crore in FY24, while Kapiva mentioned Rs 114 crore in operating earnings in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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