.Rep imageBeauty and private treatment provider Honasa Customer-- the parent entity of Mamaearth-- is actually discontinuing its ayurvedic elegance label Ayuga.In an incomes presentation on Friday, Honasa Individual said it can not establish a product-market match and also started sunsetting the company from June this year.Following the discontinuation of Ayuga, Honasa Buyer are going to possess six companies in its portfolio-- Mamaearth, its own biggest label, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the provider offers colour cosmetics products.Honasa Buyer mentioned a 19% year-on-year increase in operating income for the April-June time frame to Rs 554 crore, while web revenue increased 62% on year to Rs 40 crore.In the discussion, Honasa stated Ayuga was introduced to introduce ayurvedic elegance items in modern-day styles for Indian millennials back in December 2021. The label was overhauled 2 years eventually, based on customer feedback, it added.However, the label fell short to receive any sort of traction in spite of the changes. Ayuga was an online only brand.Other new-age brands in the ayurveda-focused appeal and private care area consist of Peak XV Allies and Fireside Ventures-backed Nathabit, Intuition Ventures-backed The Ayurveda Firm, and Vertex Ventures-backed Kapiva.Nathabit has actually reportedly crossed an annualised earnings price of Rs one hundred crore in FY24, while Kapiva stated Rs 114 crore in operating revenue in FY23.
Released On Aug 10, 2024 at 01:18 PM IST.
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