.Rep imageBeauty and individual care provider Honasa Consumer-- the parent entity of Mamaearth-- is stopping its own ayurvedic elegance label Ayuga.In an incomes presentation on Friday, Honasa Consumer claimed it could certainly not set up a product-market fit and started sunsetting the company from June this year.Following the discontinuation of Ayuga, Honasa Customer will certainly have six brand names in its own profile-- Mamaearth, its biggest label, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, as well as Staze, under which the business markets colour cosmetics products.Honasa Consumer reported a 19% year-on-year increase in operating profits for the April-June duration to Rs 554 crore, while net revenue rose 62% on year to Rs 40 crore.In the presentation, Honasa mentioned Ayuga was launched to launch ayurvedic charm products in contemporary styles for Indian millennials back in December 2021. The brand was actually overhauled 2 years eventually, based upon individual feedback, it added.However, the brand name neglected to get any sort of traction in spite of the improvements. Ayuga was an online merely brand.Other new-age brand names in the ayurveda-focused elegance and also individual care room consist of Optimal XV Allies and Fireplace Ventures-backed Nathabit, Sixth Sense Ventures-backed The Ayurveda Company, and also Tip Ventures-backed Kapiva.Nathabit has actually reportedly intercrossed an annualised income cost 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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