.Representative imageBeauty and personal care business Honasa Customer-- the moms and dad entity of Mamaearth-- is terminating its own ayurvedic elegance label Ayuga.In a profits presentation on Friday, Honasa Consumer said it could possibly not establish a product-market fit and also started sunsetting the brand name coming from June this year.Following the discontinuation of Ayuga, Honasa Customer will definitely possess 6 companies in its portfolio-- Mamaearth, its own largest brand name, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the company markets colour cosmetics products.Honasa Customer stated a 19% year-on-year rise in operating revenue for the April-June time frame to Rs 554 crore, while web earnings increased 62% on year to Rs 40 crore.In the discussion, Honasa pointed out Ayuga was released to offer ayurvedic elegance products in present day styles for Indian millennials back in December 2021. The label was revamped pair of years later, based on individual comments, it added.However, the brand name fell short to obtain any sort of footing regardless of the adjustments. Ayuga was actually an online just brand.Other new-age labels in the ayurveda-focused appeal and also private care space consist of Height XV Allies as well as Fireside Ventures-backed Nathabit, Perception Ventures-backed The Ayurveda Company, and also Vertex Ventures-backed Kapiva.Nathabit has apparently crossed an annualised earnings cost of Rs one hundred crore in FY24, while Kapiva reported Rs 114 crore in operating earnings in FY23.
Released On Aug 10, 2024 at 01:18 PM IST.
Sign up with the community of 2M+ business specialists.Sign up for our email list to get most current knowledge & analysis.
Install ETRetail App.Acquire Realtime updates.Save your favourite posts.
Check to install App.