.Representative imageBeauty and individual care business Honasa Consumer– the moms and dad company of Mamaearth– is actually stopping its ayurvedic charm brand Ayuga.In a revenues discussion on Friday, Honasa Consumer stated it could certainly not set up a product-market match as well as began sunsetting the company coming from June this year.Following the ending of Ayuga, Honasa Buyer will definitely have 6 companies in its own portfolio– Mamaearth, its own most extensive brand name, The Derma Carbon Monoxide, Aqualogica, Dr Sheth’s, BBlunt, and also Staze, under which the firm markets colour cosmetics products.Honasa Buyer mentioned a 19% year-on-year rise in operating income for the April-June time period to Rs 554 crore, while web income rose 62% on year to Rs 40 crore.In the discussion, Honasa stated Ayuga was introduced to offer ayurvedic appeal products in modern-day formats for Indian millennials back in December 2021. The brand name was actually overhauled two years eventually, based on customer responses, it added.However, the label neglected to get any sort of footing even with the modifications. Ayuga was an online simply brand.Other new-age companies in the ayurveda-focused appeal as well as personal treatment room consist of Peak XV Partners as well as Fireside Ventures-backed Nathabit, Sixth Sense Ventures-backed The Ayurveda Business, as well as Vertex Ventures-backed Kapiva.Nathabit has actually supposedly crossed an annualised earnings rate of Rs 100 crore in FY24, while Kapiva stated Rs 114 crore in operating revenue in FY23.
Published On Aug 10, 2024 at 01:18 PM IST. Sign up with the community of 2M+ market experts.Subscribe to our email list to get most up-to-date insights & study. Download And Install ETRetail App.Receive Realtime updates.Spare your preferred short articles.
Check to install App.