.Agent imageBeauty and also personal treatment provider Honasa Consumer-- the parent facility of Mamaearth-- is ceasing its own ayurvedic elegance label Ayuga.In an earnings discussion on Friday, Honasa Individual claimed it could possibly certainly not set up a product-market match and began sunsetting the label coming from June this year.Following the discontinuation of Ayuga, Honasa Consumer are going to have 6 brands in its profile-- Mamaearth, its own biggest label, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the company sells colour cosmetics products.Honasa Individual disclosed a 19% year-on-year rise in operating income 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 pointed out Ayuga was actually released to launch ayurvedic charm items in modern layouts for Indian millennials back in December 2021. The brand name was actually spruced up pair of years later on, based on individual feedback, it added.However, the brand name failed to receive any type of footing even with the changes. Ayuga was actually an online only brand.Other new-age labels in the ayurveda-focused appeal and private treatment space consist of Peak XV Partners and Fireplace Ventures-backed Nathabit, Instinct Ventures-backed The Ayurveda Firm, and also Vertex Ventures-backed Kapiva.Nathabit has apparently crossed an annualised revenue price of Rs 100 crore in FY24, while Kapiva reported Rs 114 crore in operating income in FY23.
Released On Aug 10, 2024 at 01:18 PM IST.
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