.Rep imageBeauty and individual care firm Honasa Customer-- the parent company of Mamaearth-- is actually ceasing its ayurvedic charm company Ayuga.In a revenues discussion on Friday, Honasa Buyer claimed it could not create a product-market fit and also started sunsetting the company from June this year.Following the discontinuation of Ayuga, Honasa Individual will definitely possess six companies in its collection-- Mamaearth, its most extensive label, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the firm offers colour cosmetics products.Honasa Buyer mentioned a 19% year-on-year boost in operating revenue for the April-June time period to Rs 554 crore, while web earnings increased 62% on year to Rs 40 crore.In the presentation, Honasa claimed Ayuga was launched to introduce ayurvedic elegance products in present day styles for Indian millennials back in December 2021. The brand name was overhauled two years later, based upon customer feedback, it added.However, the label failed to get any sort of footing in spite of the adjustments. Ayuga was an online just brand.Other new-age companies in the ayurveda-focused charm and personal treatment area include Peak XV Partners and also Fireplace Ventures-backed Nathabit, Second Sight Ventures-backed The Ayurveda Provider, as well as Tip Ventures-backed Kapiva.Nathabit has actually supposedly crossed an annualised revenue rate of Rs one hundred crore in FY24, while Kapiva reported Rs 114 crore in operating earnings in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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