.Representative imageBeauty and also personal care provider Honasa Buyer-- the parent facility of Mamaearth-- is stopping its ayurvedic appeal brand name Ayuga.In a revenues discussion on Friday, Honasa Consumer said it might not develop a product-market match and started sunsetting the brand coming from June this year.Following the discontinuation of Ayuga, Honasa Individual will certainly have 6 brands in its own collection-- Mamaearth, its own biggest brand name, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, as well as Staze, under which the provider markets colour cosmetics products.Honasa Buyer reported a 19% year-on-year increase in operating revenue for the April-June time period to Rs 554 crore, while internet revenue rose 62% on year to Rs 40 crore.In the presentation, Honasa stated Ayuga was launched to offer ayurvedic charm products in modern-day styles for Indian millennials back in December 2021. The company was revamped 2 years eventually, based on consumer comments, it added.However, the brand fell short to acquire any footing despite the modifications. Ayuga was an online merely brand.Other new-age labels in the ayurveda-focused charm as well as private treatment room feature Top XV Allies as well as Fireside Ventures-backed Nathabit, Extrasensory Perception Ventures-backed The Ayurveda Firm, and Vertex Ventures-backed Kapiva.Nathabit has supposedly crossed an annualised revenue fee of Rs 100 crore in FY24, while Kapiva mentioned Rs 114 crore in operating profits in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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