.Representative imageBeauty as well as personal care business Honasa Buyer– the parent entity of Mamaearth– is actually stopping its own ayurvedic charm brand name Ayuga.In a revenues presentation on Friday, Honasa Consumer stated it can not establish a product-market fit and began sunsetting the brand from June this year.Following the discontinuation of Ayuga, Honasa Customer are going to possess six brands in its portfolio– Mamaearth, its largest brand name, The Derma Carbon Monoxide, Aqualogica, Dr Sheth’s, BBlunt, and Staze, under which the company markets colour cosmetics products.Honasa Consumer stated a 19% year-on-year boost in operating earnings for the April-June time period to Rs 554 crore, while web profit climbed 62% on year to Rs 40 crore.In the discussion, Honasa stated Ayuga was launched to launch ayurvedic appeal items in modern-day formats for Indian millennials back in December 2021. The label was actually spruced up pair of years later, based on customer comments, it added.However, the brand name neglected to get any type of traction despite the changes. Ayuga was an online just brand.Other new-age labels in the ayurveda-focused elegance and private treatment area feature Peak XV Allies and Fireplace Ventures-backed Nathabit, Extrasensory Perception Ventures-backed The Ayurveda Business, and Vertex Ventures-backed Kapiva.Nathabit has reportedly intercrossed an annualised revenue price of Rs one hundred crore in FY24, while Kapiva disclosed Rs 114 crore in operating earnings in FY23.
Published On Aug 10, 2024 at 01:18 PM IST. Join the community of 2M+ market specialists.Subscribe to our bulletin to receive latest knowledge & study. Install ETRetail Application.Get Realtime updates.Save your much-loved articles.
Scan to download and install Application.