.Agent imageBeauty as well as private care company Honasa Consumer-- the moms and dad body of Mamaearth-- is actually discontinuing its ayurvedic appeal company Ayuga.In an incomes presentation on Friday, Honasa Individual stated it can not establish a product-market match and also started sunsetting the brand name coming from June this year.Following the discontinuation of Ayuga, Honasa Customer will possess 6 brand names in its own portfolio-- Mamaearth, its own most extensive label, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, as well as Staze, under which the business markets colour cosmetics products.Honasa Buyer disclosed a 19% year-on-year boost in operating income for the April-June duration to Rs 554 crore, while net income climbed 62% on year to Rs 40 crore.In the discussion, Honasa claimed Ayuga was released to launch ayurvedic elegance products in modern formats for Indian millennials back in December 2021. The brand name was spruced up 2 years later on, based on customer comments, it added.However, the brand stopped working to get any kind of grip even with the adjustments. Ayuga was an online just brand.Other new-age brand names in the ayurveda-focused charm and also individual treatment area include Peak XV Partners and Fireside Ventures-backed Nathabit, Foreknowledge Ventures-backed The Ayurveda Firm, and also Tip Ventures-backed Kapiva.Nathabit has reportedly crossed an annualised revenue price of Rs one hundred crore in FY24, while Kapiva disclosed Rs 114 crore in operating income in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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