.Representative imageBeauty and also private treatment provider Honasa Customer-- the moms and dad company of Mamaearth-- is terminating its ayurvedic elegance label Ayuga.In a revenues discussion on Friday, Honasa Consumer claimed it might certainly not develop a product-market match and also started sunsetting the brand coming from June this year.Following the ending of Ayuga, Honasa Consumer will definitely have 6 brand names in its profile-- Mamaearth, its own most extensive label, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, as well as Staze, under which the provider sells colour cosmetics products.Honasa Customer mentioned a 19% year-on-year increase 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 discussion, Honasa claimed Ayuga was actually launched to launch ayurvedic beauty products in modern formats for Indian millennials back in December 2021. The label was actually revamped pair of years later, based on consumer reviews, it added.However, the brand name stopped working to receive any kind of footing despite the improvements. Ayuga was an online just brand.Other new-age labels in the ayurveda-focused appeal and personal treatment space feature Peak XV Allies as well as Fireplace Ventures-backed Nathabit, Intuition Ventures-backed The Ayurveda Business, and Vertex Ventures-backed Kapiva.Nathabit has actually reportedly intercrossed an annualised profits price of Rs one hundred crore in FY24, while Kapiva reported Rs 114 crore in operating revenue in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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