.Agent imageBeauty as well as personal care business Honasa Buyer-- the moms and dad facility of Mamaearth-- is actually ceasing its own ayurvedic elegance company Ayuga.In an incomes discussion on Friday, Honasa Customer said it can certainly not develop a product-market match and also began sunsetting the company coming from June this year.Following the ending of Ayuga, Honasa Consumer will definitely have six brand names in its own portfolio-- Mamaearth, its biggest company, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the firm markets colour cosmetics products.Honasa Consumer reported a 19% year-on-year rise in operating revenue for the April-June duration to Rs 554 crore, while net earnings increased 62% on year to Rs 40 crore.In the presentation, Honasa pointed out Ayuga was actually introduced to introduce ayurvedic appeal items in modern layouts for Indian millennials back in December 2021. The brand name was revamped two years eventually, based on customer responses, it added.However, the label failed to obtain any sort of grip in spite of the improvements. Ayuga was actually an online just brand.Other new-age brands in the ayurveda-focused appeal and also personal treatment space include Top XV Partners and Fireplace Ventures-backed Nathabit, Extrasensory Perception Ventures-backed The Ayurveda Company, as well as Vertex Ventures-backed Kapiva.Nathabit has apparently crossed an annualised income rate of Rs 100 crore in FY24, while Kapiva disclosed Rs 114 crore in operating income in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
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