.Rep imageBeauty and personal treatment provider Honasa Customer-- the parent company of Mamaearth-- is actually terminating its ayurvedic elegance brand name Ayuga.In an earnings discussion on Friday, Honasa Buyer stated it could possibly not set up a product-market fit as well as began sunsetting the label coming from June this year.Following the discontinuation of Ayuga, Honasa Customer will possess six brands in its own collection-- Mamaearth, its most extensive company, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the company sells colour cosmetics products.Honasa Individual mentioned a 19% year-on-year boost in operating earnings for the April-June time period to Rs 554 crore, while net revenue increased 62% on year to Rs 40 crore.In the presentation, Honasa mentioned Ayuga was actually launched to present ayurvedic elegance items in contemporary layouts for Indian millennials back in December 2021. The brand name was actually spruced up 2 years later, based upon customer comments, it added.However, the brand name neglected to receive any grip in spite of the improvements. Ayuga was actually an online only brand.Other new-age brand names in the ayurveda-focused appeal as well as private care space consist of Optimal XV Allies and also Fireside Ventures-backed Nathabit, Extrasensory Perception Ventures-backed The Ayurveda Provider, and also Vertex Ventures-backed Kapiva.Nathabit has supposedly crossed an annualised revenue price of Rs 100 crore in FY24, while Kapiva mentioned Rs 114 crore in operating earnings in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
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