.Representative imageBeauty and individual care business Honasa Consumer-- the parent entity of Mamaearth-- is actually discontinuing its own ayurvedic beauty label Ayuga.In a profits presentation on Friday, Honasa Customer mentioned it might not establish a product-market fit as well as began sunsetting the brand from June this year.Following the ending of Ayuga, Honasa Customer will have six brand names in its profile-- Mamaearth, its own largest label, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the firm sells colour cosmetics products.Honasa Customer disclosed a 19% year-on-year rise in operating revenue for the April-June time period to Rs 554 crore, while net profit climbed 62% on year to Rs 40 crore.In the discussion, Honasa claimed Ayuga was launched to offer ayurvedic appeal items in modern formats for Indian millennials back in December 2021. The brand was revamped 2 years eventually, based upon buyer responses, it added.However, the brand failed to receive any sort of traction in spite of the improvements. Ayuga was an online only brand.Other new-age labels in the ayurveda-focused beauty as well as personal treatment room consist of Top XV Allies as well as Fireplace Ventures-backed Nathabit, Sixth Sense Ventures-backed The Ayurveda Company, as well as Vertex Ventures-backed Kapiva.Nathabit has actually reportedly crossed an annualised revenue rate of Rs 100 crore in FY24, while Kapiva reported Rs 114 crore in operating revenue in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
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