.Rep imageBeauty as well as private treatment provider Honasa Buyer-- the parent facility of Mamaearth-- is terminating its ayurvedic beauty brand Ayuga.In an incomes presentation on Friday, Honasa Individual mentioned it could possibly certainly not create a product-market fit and started sunsetting the brand name from June this year.Following the discontinuation of Ayuga, Honasa Individual will definitely possess six brand names in its portfolio-- Mamaearth, its largest brand name, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the firm markets colour cosmetics products.Honasa Buyer 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 presentation, Honasa pointed out Ayuga was released to launch ayurvedic elegance products in contemporary layouts for Indian millennials back in December 2021. The brand name was actually overhauled 2 years later on, based upon buyer reviews, it added.However, the brand fell short to obtain any type of grip even with the modifications. Ayuga was actually an online just brand.Other new-age companies in the ayurveda-focused appeal as well as personal care room feature Peak XV Allies as well as Fireplace Ventures-backed Nathabit, Foreknowledge Ventures-backed The Ayurveda Company, and Tip Ventures-backed Kapiva.Nathabit has apparently crossed an annualised revenue rate of Rs 100 crore in FY24, while Kapiva disclosed Rs 114 crore in operating income in FY23.
Released On Aug 10, 2024 at 01:18 PM IST.
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