.Rep imageBeauty as well as individual care business Honasa Buyer-- the moms and dad company of Mamaearth-- is discontinuing its ayurvedic charm brand name Ayuga.In an earnings presentation on Friday, Honasa Individual stated it might not establish a product-market fit and started sunsetting the brand name coming from June this year.Following the ending of Ayuga, Honasa Customer will certainly possess 6 brands in its own collection-- Mamaearth, its biggest label, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the business sells colour cosmetics products.Honasa Individual reported a 19% year-on-year rise in operating earnings for the April-June period to Rs 554 crore, while web income climbed 62% on year to Rs 40 crore.In the discussion, Honasa claimed Ayuga was actually launched to introduce ayurvedic charm products in contemporary formats for Indian millennials back in December 2021. The company was actually spruced up two years later, based upon buyer responses, it added.However, the company stopped working to acquire any type of grip despite the changes. Ayuga was actually an online simply brand.Other new-age companies in the ayurveda-focused elegance and personal treatment space consist of Peak XV Partners as well as Fireplace Ventures-backed Nathabit, Extrasensory Perception Ventures-backed The Ayurveda Firm, and Tip Ventures-backed Kapiva.Nathabit has actually reportedly crossed an annualised profits price of Rs one hundred crore in FY24, while Kapiva stated Rs 114 crore in operating revenue in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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