.Rep imageBeauty and also individual treatment business Honasa Individual– the parent entity of Mamaearth– is actually stopping its ayurvedic appeal brand Ayuga.In a profits presentation on Friday, Honasa Consumer mentioned it might not create a product-market match and started sunsetting the company coming from June this year.Following the discontinuation of Ayuga, Honasa Customer will definitely have 6 brand names in its own profile– Mamaearth, its biggest brand name, The Derma Carbon Monoxide, Aqualogica, Dr Sheth’s, BBlunt, and also Staze, under which the business offers colour cosmetics products.Honasa Consumer disclosed a 19% year-on-year increase in operating earnings for the April-June time frame to Rs 554 crore, while internet revenue rose 62% on year to Rs 40 crore.In the presentation, Honasa claimed Ayuga was introduced to present ayurvedic elegance items in contemporary styles for Indian millennials back in December 2021. The brand name was actually remodelled two years later on, based upon individual comments, it added.However, the brand name neglected to receive any kind of grip in spite of the improvements. Ayuga was actually an online just brand.Other new-age brand names in the ayurveda-focused appeal and also private care area consist of Peak XV Allies as well as Fireside Ventures-backed Nathabit, Clairvoyance Ventures-backed The Ayurveda Company, as well as Vertex Ventures-backed Kapiva.Nathabit has actually supposedly intercrossed an annualised earnings rate of Rs 100 crore in FY24, while Kapiva mentioned Rs 114 crore in operating earnings in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST. Join the area of 2M+ field professionals.Subscribe to our email list to receive latest understandings & review. Download ETRetail Application.Obtain Realtime updates.Save your favourite write-ups.
Browse to install App.