.Representative imageBeauty and also individual care firm Honasa Individual-- the parent body of Mamaearth-- is ceasing its own ayurvedic elegance brand name Ayuga.In an incomes discussion on Friday, Honasa Buyer said it could certainly not develop a product-market match and began sunsetting the brand name coming from June this year.Following the ending of Ayuga, Honasa Customer will possess six brands in its own portfolio-- Mamaearth, its own largest company, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the provider markets colour cosmetics products.Honasa Buyer reported a 19% year-on-year increase in operating revenue for the April-June period to Rs 554 crore, while web revenue climbed 62% on year to Rs 40 crore.In the presentation, Honasa stated Ayuga was launched to present ayurvedic charm items in modern-day formats for Indian millennials back in December 2021. The company was renewed two years eventually, based on individual feedback, it added.However, the company stopped working to obtain any sort of footing regardless of the improvements. Ayuga was an online just brand.Other new-age labels in the ayurveda-focused charm and also personal treatment space feature Top XV Allies and Fireplace Ventures-backed Nathabit, Intuitiveness Ventures-backed The Ayurveda Company, as well as Tip Ventures-backed Kapiva.Nathabit has apparently intercrossed an annualised revenue cost of Rs 100 crore in FY24, while Kapiva mentioned Rs 114 crore in operating profits in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
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