.Representative imageBeauty as well as individual treatment business Honasa Consumer-- the moms and dad facility of Mamaearth-- is actually discontinuing its own ayurvedic beauty brand name Ayuga.In an incomes presentation on Friday, Honasa Buyer stated it could possibly not develop a product-market fit and began sunsetting the company from June this year.Following the discontinuation of Ayuga, Honasa Consumer will have six brand names in its profile-- Mamaearth, its biggest company, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the provider markets colour cosmetics products.Honasa Customer mentioned a 19% year-on-year boost in operating revenue for the April-June time period to Rs 554 crore, while internet income increased 62% on year to Rs 40 crore.In the discussion, Honasa said Ayuga was actually introduced to present ayurvedic appeal products in modern-day styles for Indian millennials back in December 2021. The brand was revamped pair of years later on, based on individual comments, it added.However, the brand name stopped working to receive any sort of traction despite the modifications. Ayuga was actually an online merely brand.Other new-age labels in the ayurveda-focused appeal and individual treatment space include Top XV Partners and also Fireside Ventures-backed Nathabit, Intuitiveness Ventures-backed The Ayurveda Firm, and also Tip Ventures-backed Kapiva.Nathabit has actually reportedly intercrossed an annualised income fee of Rs one hundred crore in FY24, while Kapiva mentioned Rs 114 crore in operating earnings in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
Sign up with the community of 2M+ industry specialists.Subscribe to our e-newsletter to receive newest ideas & evaluation.
Download And Install ETRetail App.Get Realtime updates.Spare your favourite short articles.
Browse to download App.