.Rep imageBeauty and also individual treatment company Honasa Buyer-- the parent body of Mamaearth-- is actually stopping its own ayurvedic appeal brand Ayuga.In an earnings discussion on Friday, Honasa Buyer mentioned it might not establish a product-market fit and also began sunsetting the label from June this year.Following the discontinuation of Ayuga, Honasa Customer will definitely have six labels in its profile-- Mamaearth, its biggest company, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the provider markets colour cosmetics products.Honasa Individual stated a 19% year-on-year boost in operating income for the April-June time period to Rs 554 crore, while web profit rose 62% on year to Rs 40 crore.In the presentation, Honasa stated Ayuga was released to offer ayurvedic charm items in present day formats for Indian millennials back in December 2021. The label was actually spruced up two years later on, based upon customer reviews, it added.However, the brand neglected to acquire any type of footing in spite of the adjustments. Ayuga was an online just brand.Other new-age companies in the ayurveda-focused elegance and also private care area feature Optimal XV Allies and also Fireside Ventures-backed Nathabit, Clairvoyance Ventures-backed The Ayurveda Company, and also Vertex Ventures-backed Kapiva.Nathabit has apparently crossed an annualised earnings rate of Rs 100 crore in FY24, while Kapiva reported Rs 114 crore in operating profits in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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