.Representative imageBeauty and personal treatment firm Honasa Customer-- the parent facility of Mamaearth-- is discontinuing its own ayurvedic beauty brand name Ayuga.In a profits presentation on Friday, Honasa Consumer said it can certainly not establish a product-market fit as well as started sunsetting the brand coming from June this year.Following the discontinuation of Ayuga, Honasa Buyer will definitely possess six brands in its portfolio-- Mamaearth, its own largest company, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, as well as Staze, under which the provider offers colour cosmetics products.Honasa Individual disclosed a 19% year-on-year rise in operating income for the April-June duration to Rs 554 crore, while web earnings rose 62% on year to Rs 40 crore.In the presentation, Honasa stated Ayuga was launched to present ayurvedic beauty products in modern-day layouts for Indian millennials back in December 2021. The company was overhauled 2 years later, based upon buyer reviews, it added.However, the brand fell short to obtain any sort of footing in spite of the modifications. Ayuga was actually an online only brand.Other new-age companies in the ayurveda-focused elegance and personal care space include Peak XV Partners and Fireplace Ventures-backed Nathabit, Extrasensory Perception Ventures-backed The Ayurveda Firm, and also Vertex Ventures-backed Kapiva.Nathabit has supposedly crossed an annualised earnings rate of Rs one hundred crore in FY24, while Kapiva stated Rs 114 crore in operating profits in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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