.Rep imageBeauty and individual treatment company Honasa Consumer-- the parent entity of Mamaearth-- is discontinuing its ayurvedic beauty company Ayuga.In an earnings discussion on Friday, Honasa Individual stated it might not create a product-market fit as well as started sunsetting the brand coming from June this year.Following the ending of Ayuga, Honasa Buyer will possess 6 brands in its collection-- Mamaearth, its own biggest brand name, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, as well as Staze, under which the business offers colour cosmetics products.Honasa Individual mentioned a 19% year-on-year boost in operating profits for the April-June period to Rs 554 crore, while internet income climbed 62% on year to Rs 40 crore.In the discussion, Honasa claimed Ayuga was introduced to offer ayurvedic charm products in present day styles for Indian millennials back in December 2021. The brand name was remodelled 2 years eventually, based on consumer reviews, it added.However, the company failed to acquire any type of traction in spite of the improvements. Ayuga was actually an online simply brand.Other new-age companies in the ayurveda-focused charm and also individual treatment area feature Height XV Allies and also Fireside Ventures-backed Nathabit, Foreknowledge Ventures-backed The Ayurveda Company, and also Vertex Ventures-backed Kapiva.Nathabit has actually apparently intercrossed an annualised revenue price of Rs one hundred crore in FY24, while Kapiva disclosed Rs 114 crore in operating revenue in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
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