.Agent imageBeauty and individual treatment business Honasa Customer-- the moms and dad entity of Mamaearth-- is actually ceasing its own ayurvedic beauty company Ayuga.In a revenues presentation on Friday, Honasa Consumer mentioned it might certainly not establish a product-market match as well as began sunsetting the company from June this year.Following the discontinuation of Ayuga, Honasa Individual will possess 6 brands in its portfolio-- Mamaearth, its own biggest label, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the company offers colour cosmetics products.Honasa Consumer disclosed a 19% year-on-year boost in operating profits for the April-June time period to Rs 554 crore, while web earnings rose 62% on year to Rs 40 crore.In the presentation, Honasa pointed out Ayuga was released to present ayurvedic charm products in present day formats for Indian millennials back in December 2021. The brand name was actually revamped two years later, based on individual reviews, it added.However, the brand name fell short to acquire any traction regardless of the modifications. Ayuga was actually an online only brand.Other new-age companies in the ayurveda-focused appeal as well as private treatment space include Height XV Allies as well as Fireside Ventures-backed Nathabit, Instinct Ventures-backed The Ayurveda Provider, as well as Tip Ventures-backed Kapiva.Nathabit has reportedly intercrossed an annualised income cost of Rs one hundred crore in FY24, while Kapiva mentioned Rs 114 crore in operating income in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
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