.Agent imageBeauty and also individual treatment company Honasa Buyer-- the parent entity of Mamaearth-- is ceasing its ayurvedic charm brand name Ayuga.In an earnings presentation on Friday, Honasa Individual said it could possibly not establish a product-market fit and also began sunsetting the brand from June this year.Following the discontinuation of Ayuga, Honasa Consumer will possess 6 brands in its own portfolio-- Mamaearth, its biggest label, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the business markets colour cosmetics products.Honasa Buyer disclosed a 19% year-on-year rise in operating earnings for the April-June period to Rs 554 crore, while internet revenue increased 62% on year to Rs 40 crore.In the presentation, Honasa said Ayuga was actually launched to offer ayurvedic charm products in contemporary layouts for Indian millennials back in December 2021. The company was actually spruced up two years eventually, based on customer reviews, it added.However, the brand neglected to receive any type of traction even with the changes. Ayuga was an online just brand.Other new-age brands in the ayurveda-focused charm and also private treatment space feature Peak XV Allies as well as Fireside Ventures-backed Nathabit, Extrasensory Perception Ventures-backed The Ayurveda Provider, as well as Tip Ventures-backed Kapiva.Nathabit has apparently intercrossed an annualised revenue fee 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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