.Rep imageBeauty as well as private care business Honasa Buyer-- the parent entity of Mamaearth-- is actually stopping its own ayurvedic charm brand Ayuga.In an earnings presentation on Friday, Honasa Consumer claimed it could possibly not develop a product-market match and started sunsetting the brand coming from June this year.Following the discontinuation of Ayuga, Honasa Individual are going to possess 6 labels in its profile-- Mamaearth, its own most extensive brand name, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the business offers colour cosmetics products.Honasa Customer mentioned a 19% year-on-year boost in operating income for the April-June duration to Rs 554 crore, while net earnings increased 62% on year to Rs 40 crore.In the discussion, Honasa mentioned Ayuga was introduced to introduce ayurvedic appeal products in contemporary layouts for Indian millennials back in December 2021. The brand name was renewed 2 years later, based on customer reviews, it added.However, the label stopped working to receive any footing regardless of the adjustments. Ayuga was an online simply brand.Other new-age companies in the ayurveda-focused appeal as well as private care area consist of Peak XV Partners as well as Fireside Ventures-backed Nathabit, Sixth Sense Ventures-backed The Ayurveda Firm, and also Vertex Ventures-backed Kapiva.Nathabit has reportedly crossed an annualised revenue price of Rs one hundred crore in FY24, while Kapiva mentioned Rs 114 crore in operating revenue in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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