.Representative imageBeauty as well as private care company Honasa Buyer-- the parent entity of Mamaearth-- is actually stopping its own ayurvedic charm company Ayuga.In a revenues presentation on Friday, Honasa Consumer stated it could not develop a product-market fit and started sunsetting the label from June this year.Following the ending of Ayuga, Honasa Individual will certainly possess 6 brands in its profile-- Mamaearth, its own biggest company, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the firm markets colour cosmetics products.Honasa Consumer reported a 19% year-on-year rise in operating profits for the April-June duration to Rs 554 crore, while net revenue increased 62% on year to Rs 40 crore.In the presentation, Honasa stated Ayuga was actually introduced to offer ayurvedic beauty items in modern-day layouts for Indian millennials back in December 2021. The company was revamped 2 years eventually, based on individual responses, it added.However, the brand name fell short to acquire any grip despite the modifications. Ayuga was an online just brand.Other new-age companies in the ayurveda-focused elegance and individual care room consist of Peak XV Allies and Fireplace Ventures-backed Nathabit, Foreknowledge Ventures-backed The Ayurveda Provider, and Tip Ventures-backed Kapiva.Nathabit has actually supposedly crossed an annualised revenue price of Rs 100 crore in FY24, while Kapiva reported Rs 114 crore in operating profits in FY23.
Released On Aug 10, 2024 at 01:18 PM IST.
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