.Agent imageBeauty and personal treatment provider Honasa Customer-- the parent body of Mamaearth-- is actually discontinuing its own ayurvedic charm label Ayuga.In a profits discussion on Friday, Honasa Buyer mentioned it might certainly not develop a product-market match as well as began sunsetting the brand name from June this year.Following the discontinuation of Ayuga, Honasa Buyer will certainly have six labels in its portfolio-- Mamaearth, its biggest brand name, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, as well as Staze, under which the provider offers colour cosmetics products.Honasa Consumer stated a 19% year-on-year boost in operating earnings for the April-June time period to Rs 554 crore, while net revenue rose 62% on year to Rs 40 crore.In the discussion, Honasa mentioned Ayuga was actually released to present ayurvedic elegance items in modern-day formats for Indian millennials back in December 2021. The brand name was overhauled 2 years later on, based upon consumer feedback, it added.However, the brand failed to obtain any kind of footing despite the changes. Ayuga was an online merely brand.Other new-age companies in the ayurveda-focused charm and also individual care room feature Top XV Partners and Fireside Ventures-backed Nathabit, Extrasensory Perception Ventures-backed The Ayurveda Business, and also Vertex Ventures-backed Kapiva.Nathabit has actually reportedly intercrossed an annualised earnings price of Rs one hundred crore in FY24, while Kapiva mentioned Rs 114 crore in operating income in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
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