.Representative imageBeauty and private care firm Honasa Customer-- the parent body of Mamaearth-- is actually terminating its ayurvedic appeal company Ayuga.In a profits presentation on Friday, Honasa Customer mentioned it can certainly not set up a product-market match and also started sunsetting the brand from June this year.Following the discontinuation of Ayuga, Honasa Customer will definitely have 6 brand names in its own portfolio-- Mamaearth, its own most extensive brand name, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the provider offers colour cosmetics products.Honasa Consumer stated a 19% year-on-year rise in operating earnings for the April-June time frame to Rs 554 crore, while web profit increased 62% on year to Rs 40 crore.In the presentation, Honasa mentioned Ayuga was actually introduced to launch ayurvedic elegance items in modern layouts for Indian millennials back in December 2021. The brand name was actually remodelled pair of years later, based upon buyer reviews, it added.However, the company stopped working to acquire any type of footing despite the adjustments. Ayuga was actually an online just brand.Other new-age brands in the ayurveda-focused charm as well as private care space include Height XV Partners as well as Fireplace Ventures-backed Nathabit, Clairvoyance Ventures-backed The Ayurveda Provider, and also 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.
Posted On Aug 10, 2024 at 01:18 PM IST.
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