.Rep imageBeauty as well as personal treatment firm Honasa Customer-- the moms and dad company of Mamaearth-- is actually ceasing its own ayurvedic beauty brand name Ayuga.In a revenues presentation on Friday, Honasa Customer stated it can certainly not set up a product-market match and also began sunsetting the brand name coming from June this year.Following the ending of Ayuga, Honasa Customer will definitely possess 6 brands in its portfolio-- Mamaearth, its largest brand, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the firm markets colour cosmetics products.Honasa Customer stated a 19% year-on-year increase in operating revenue for the April-June time frame to Rs 554 crore, while web revenue rose 62% on year to Rs 40 crore.In the presentation, Honasa pointed out Ayuga was released to present ayurvedic appeal products in modern-day styles for Indian millennials back in December 2021. The label was renewed pair of years eventually, based on individual reviews, it added.However, the brand name fell short to receive any type of footing despite the improvements. Ayuga was actually an online merely brand.Other new-age companies in the ayurveda-focused charm and individual care room feature Optimal XV Partners and also Fireside Ventures-backed Nathabit, Sixth Sense Ventures-backed The Ayurveda Firm, and Tip Ventures-backed Kapiva.Nathabit has apparently crossed an annualised income fee of Rs one hundred crore in FY24, while Kapiva stated Rs 114 crore in operating profits in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
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