.Rep imageBeauty as well as personal treatment company Honasa Customer-- the parent body of Mamaearth-- is discontinuing its own ayurvedic charm brand name Ayuga.In a profits discussion on Friday, Honasa Individual said it might not set up a product-market match as well as started sunsetting the label from June this year.Following the discontinuation of Ayuga, Honasa Customer will certainly have six companies in its own portfolio-- Mamaearth, its largest company, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, as well as Staze, under which the firm offers colour cosmetics products.Honasa Buyer disclosed a 19% year-on-year rise in operating revenue for the April-June time frame to Rs 554 crore, while net revenue increased 62% on year to Rs 40 crore.In the presentation, Honasa stated Ayuga was actually launched to introduce ayurvedic appeal products in modern layouts for Indian millennials back in December 2021. The brand name was spruced up pair of years later on, based on buyer reviews, it added.However, the company neglected to acquire any sort of footing regardless of the adjustments. Ayuga was an online just brand.Other new-age labels in the ayurveda-focused charm and personal treatment space consist of Height XV Partners as well as Fireside Ventures-backed Nathabit, Premonition Ventures-backed The Ayurveda Business, and Tip Ventures-backed Kapiva.Nathabit has actually supposedly crossed an annualised earnings cost of Rs 100 crore in FY24, while Kapiva disclosed Rs 114 crore in operating profits in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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