.Rep imageBeauty and also individual care firm Honasa Individual-- the moms and dad company of Mamaearth-- is actually stopping its ayurvedic elegance brand name Ayuga.In a revenues discussion on Friday, Honasa Individual stated it could not create a product-market match as well as started sunsetting the brand name coming from June this year.Following the ending of Ayuga, Honasa Individual are going to have six brand names in its profile-- Mamaearth, its own biggest brand name, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the provider sells colour cosmetics products.Honasa Individual disclosed a 19% year-on-year rise in operating revenue for the April-June time period to Rs 554 crore, while internet revenue rose 62% on year to Rs 40 crore.In the presentation, Honasa said Ayuga was actually released to launch ayurvedic elegance products in modern layouts for Indian millennials back in December 2021. The label was actually renewed 2 years later on, based upon consumer feedback, it added.However, the label failed to obtain any sort of footing despite the improvements. Ayuga was actually an online merely brand.Other new-age labels in the ayurveda-focused charm and personal care room feature Top XV Partners and also Fireplace Ventures-backed Nathabit, Premonition Ventures-backed The Ayurveda Business, as well as Vertex Ventures-backed Kapiva.Nathabit has reportedly crossed an annualised income cost of Rs 100 crore in FY24, while Kapiva reported Rs 114 crore in operating profits in FY23.
Released On Aug 10, 2024 at 01:18 PM IST.
Participate in the area of 2M+ market specialists.Subscribe to our bulletin to receive most recent understandings & review.
Install ETRetail App.Acquire Realtime updates.Spare your favourite short articles.
Check to install Application.