.Agent imageBeauty and individual care firm Honasa Customer-- the moms and dad body of Mamaearth-- is ceasing its ayurvedic elegance company Ayuga.In an earnings discussion on Friday, Honasa Individual said it could not develop a product-market fit as well as began sunsetting the company from June this year.Following the discontinuation of Ayuga, Honasa Consumer will definitely possess 6 brand names in its own profile-- Mamaearth, its own biggest brand name, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the firm offers colour cosmetics products.Honasa Customer stated a 19% year-on-year increase in operating revenue for the April-June time frame to Rs 554 crore, while net revenue climbed 62% on year to Rs 40 crore.In the presentation, Honasa claimed Ayuga was released to offer ayurvedic appeal products in present day formats for Indian millennials back in December 2021. The brand was actually overhauled pair of years later, based on consumer responses, it added.However, the brand failed to acquire any type of footing even with the improvements. Ayuga was an online just brand.Other new-age labels in the ayurveda-focused elegance and personal treatment room consist of Optimal XV Allies and Fireside Ventures-backed Nathabit, Premonition Ventures-backed The Ayurveda Firm, as well as Vertex Ventures-backed Kapiva.Nathabit has reportedly crossed an annualised earnings cost of Rs 100 crore in FY24, while Kapiva disclosed Rs 114 crore in operating earnings in FY23.
Released On Aug 10, 2024 at 01:18 PM IST.
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