.Representative imageBeauty and individual care firm Honasa Customer– the moms and dad facility of Mamaearth– is actually terminating its own ayurvedic appeal company Ayuga.In an earnings presentation on Friday, Honasa Individual mentioned it could certainly not create a product-market fit and also started sunsetting the company from June this year.Following the discontinuation of Ayuga, Honasa Customer will definitely possess 6 companies in its profile– Mamaearth, its own most extensive company, The Derma Co, Aqualogica, Dr Sheth’s, BBlunt, and Staze, under which the firm offers colour cosmetics products.Honasa Customer stated a 19% year-on-year boost in operating revenue for the April-June period to Rs 554 crore, while web earnings rose 62% on year to Rs 40 crore.In the discussion, Honasa mentioned Ayuga was actually released to present ayurvedic appeal items in contemporary layouts for Indian millennials back in December 2021. The brand was actually remodelled 2 years later, based upon individual responses, it added.However, the label fell short to get any sort of traction in spite of the modifications. Ayuga was an online only brand.Other new-age brands in the ayurveda-focused appeal and also private treatment space include Optimal XV Allies and also Fireplace Ventures-backed Nathabit, Intuitiveness Ventures-backed The Ayurveda Business, and also Vertex Ventures-backed Kapiva.Nathabit has supposedly intercrossed an annualised revenue price of Rs one hundred crore in FY24, while Kapiva reported Rs 114 crore in operating income in FY23.
Released On Aug 10, 2024 at 01:18 PM IST. Join the community of 2M+ business experts.Register for our e-newsletter to get latest understandings & analysis. Download ETRetail Application.Get Realtime updates.Conserve your preferred short articles.
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