.Rep imageBeauty and also personal care company Honasa Customer-- the parent facility of Mamaearth-- is actually discontinuing its ayurvedic elegance brand name Ayuga.In a revenues presentation on Friday, Honasa Consumer claimed it could not create a product-market match and also started sunsetting the brand coming from June this year.Following the ending of Ayuga, Honasa Buyer are going to have six brand names in its profile-- Mamaearth, its own biggest brand, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, as well as Staze, under which the business sells colour cosmetics products.Honasa Individual mentioned a 19% year-on-year increase in operating income for the April-June period to Rs 554 crore, while internet profit climbed 62% on year to Rs 40 crore.In the discussion, Honasa mentioned Ayuga was actually released to launch ayurvedic charm products in modern-day styles for Indian millennials back in December 2021. The company was revamped 2 years eventually, based on customer responses, it added.However, the label failed to acquire any footing even with the improvements. Ayuga was an online only brand.Other new-age labels in the ayurveda-focused elegance and also individual treatment area consist of Top XV Partners as well as Fireside Ventures-backed Nathabit, Intuition Ventures-backed The Ayurveda Business, and also Vertex Ventures-backed Kapiva.Nathabit has actually apparently intercrossed an annualised revenue cost of Rs 100 crore in FY24, while Kapiva mentioned Rs 114 crore in operating revenue in FY23.
Released On Aug 10, 2024 at 01:18 PM IST.
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