.Representative imageBeauty and personal care business Honasa Buyer-- the parent entity of Mamaearth-- is stopping its ayurvedic elegance label Ayuga.In an earnings discussion on Friday, Honasa Customer stated it could possibly not set up a product-market fit and also began sunsetting the brand from June this year.Following the discontinuation of Ayuga, Honasa Customer will certainly possess 6 companies in its profile-- Mamaearth, its biggest brand name, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the company markets colour cosmetics products.Honasa Customer stated a 19% year-on-year rise in operating income for the April-June time frame to Rs 554 crore, while net revenue climbed 62% on year to Rs 40 crore.In the discussion, Honasa said Ayuga was introduced to launch ayurvedic elegance products in modern formats for Indian millennials back in December 2021. The company was actually remodelled pair of years eventually, based on customer reviews, it added.However, the brand failed to get any type of traction regardless of the improvements. Ayuga was an online just brand.Other new-age companies in the ayurveda-focused elegance and also personal care space consist of Peak XV Partners as well as Fireplace Ventures-backed Nathabit, Second Sight Ventures-backed The Ayurveda Company, and Tip Ventures-backed Kapiva.Nathabit has supposedly crossed an annualised income rate of Rs one hundred crore in FY24, while Kapiva stated Rs 114 crore in operating earnings in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
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