.Rep imageBeauty as well as private care business Honasa Buyer-- the parent entity of Mamaearth-- is actually discontinuing its ayurvedic beauty brand Ayuga.In a profits discussion on Friday, Honasa Buyer said it can certainly not create a product-market match and also started sunsetting the company from June this year.Following the ending of Ayuga, Honasa Consumer will definitely possess six companies in its own portfolio-- Mamaearth, its biggest label, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the provider sells colour cosmetics products.Honasa Buyer mentioned a 19% year-on-year boost in operating revenue for the April-June time period to Rs 554 crore, while web revenue climbed 62% on year to Rs 40 crore.In the discussion, Honasa said Ayuga was introduced to present ayurvedic appeal products in present day formats for Indian millennials back in December 2021. The label was actually revamped two years later on, based on consumer reviews, it added.However, the company neglected to receive any type of footing even with the improvements. Ayuga was actually an online only brand.Other new-age brands in the ayurveda-focused elegance and individual treatment space include Peak XV Partners and Fireplace Ventures-backed Nathabit, Second Sight Ventures-backed The Ayurveda Company, and Vertex Ventures-backed Kapiva.Nathabit has reportedly intercrossed an annualised earnings price of Rs one hundred crore in FY24, while Kapiva disclosed Rs 114 crore in operating revenue in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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