.Representative imageBeauty and also individual care business Honasa Individual-- the parent company of Mamaearth-- is ceasing its own ayurvedic charm company Ayuga.In a profits discussion on Friday, Honasa Consumer stated it could certainly not develop a product-market fit as well as began sunsetting the company coming from June this year.Following the ending of Ayuga, Honasa Individual are going to possess six companies in its collection-- Mamaearth, its own most extensive company, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the firm markets colour cosmetics products.Honasa Individual disclosed a 19% year-on-year boost in operating revenue for the April-June time frame to Rs 554 crore, while internet revenue increased 62% on year to Rs 40 crore.In the presentation, Honasa claimed Ayuga was actually introduced to present ayurvedic elegance items in modern styles for Indian millennials back in December 2021. The brand was spruced up pair of years later, based upon buyer comments, it added.However, the brand failed to receive any footing even with the changes. Ayuga was an online merely brand.Other new-age brands in the ayurveda-focused beauty and also individual treatment area include Optimal XV Partners and also Fireside Ventures-backed Nathabit, Sixth Sense Ventures-backed The Ayurveda Firm, and also Tip Ventures-backed Kapiva.Nathabit has actually supposedly intercrossed an annualised revenue cost of Rs one hundred crore in FY24, while Kapiva stated Rs 114 crore in operating earnings in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
Sign up with the community of 2M+ market professionals.Subscribe to our e-newsletter to acquire latest knowledge & analysis.
Download And Install ETRetail App.Get Realtime updates.Spare your favorite posts.
Scan to download and install Application.