.Rep imageBeauty as well as personal treatment company Honasa Individual-- the moms and dad facility of Mamaearth-- is actually terminating its own ayurvedic elegance label Ayuga.In an earnings presentation on Friday, Honasa Individual said it could possibly not establish a product-market match and began sunsetting the brand coming from June this year.Following the discontinuation of Ayuga, Honasa Individual will definitely have 6 brands in its collection-- Mamaearth, its biggest company, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the business offers colour cosmetics products.Honasa Buyer reported a 19% year-on-year rise in operating revenue for the April-June duration to Rs 554 crore, while internet income rose 62% on year to Rs 40 crore.In the discussion, Honasa claimed Ayuga was released to launch ayurvedic elegance items in contemporary formats for Indian millennials back in December 2021. The label was actually overhauled pair of years eventually, based on buyer feedback, it added.However, the brand fell short to get any kind of footing regardless of the improvements. Ayuga was an online just brand.Other new-age brands in the ayurveda-focused appeal and individual treatment area include Top XV Allies as well as Fireside Ventures-backed Nathabit, Perception Ventures-backed The Ayurveda Company, as well as Vertex Ventures-backed Kapiva.Nathabit has actually apparently crossed an annualised earnings cost of Rs one hundred crore in FY24, while Kapiva stated Rs 114 crore in operating profits in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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