.Representative imageBeauty as well as individual care firm Honasa Customer-- the moms and dad facility of Mamaearth-- is actually terminating its ayurvedic beauty label Ayuga.In a revenues presentation on Friday, Honasa Customer said it could possibly not set up a product-market fit as well as started sunsetting the label from June this year.Following the ending of Ayuga, Honasa Customer will possess six labels in its portfolio-- Mamaearth, its largest label, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the firm sells colour cosmetics products.Honasa Customer reported a 19% year-on-year boost in operating earnings for the April-June time frame to Rs 554 crore, while internet earnings climbed 62% on year to Rs 40 crore.In the discussion, Honasa pointed out Ayuga was actually launched to present ayurvedic elegance products in modern formats for Indian millennials back in December 2021. The brand name was spruced up 2 years later on, based upon consumer responses, it added.However, the brand name fell short to receive any kind of grip in spite of the improvements. Ayuga was an online simply brand.Other new-age brands in the ayurveda-focused elegance and also personal treatment area feature Peak XV Partners as well as Fireside Ventures-backed Nathabit, Second Sight Ventures-backed The Ayurveda Provider, and also Tip Ventures-backed Kapiva.Nathabit has actually reportedly crossed an annualised income cost of Rs 100 crore in FY24, while Kapiva disclosed Rs 114 crore in operating revenue in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
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