.Representative imageBeauty and also individual treatment provider Honasa Buyer-- the parent company of Mamaearth-- is ceasing its own ayurvedic beauty brand Ayuga.In an incomes discussion on Friday, Honasa Individual mentioned it could possibly certainly not establish a product-market match and also began sunsetting the brand from June this year.Following the ending of Ayuga, Honasa Buyer will possess six companies in its own profile-- Mamaearth, its own largest label, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the business offers colour cosmetics products.Honasa Customer reported a 19% year-on-year boost in operating earnings for the April-June period to Rs 554 crore, while internet revenue increased 62% on year to Rs 40 crore.In the presentation, Honasa said Ayuga was introduced to present ayurvedic charm items in modern formats for Indian millennials back in December 2021. The brand was remodelled pair of years later on, based on customer comments, it added.However, the label failed to get any footing regardless of the adjustments. Ayuga was an online merely brand.Other new-age labels in the ayurveda-focused beauty and also personal treatment space include Optimal XV Partners as well as Fireplace Ventures-backed Nathabit, Sixth Sense Ventures-backed The Ayurveda Provider, and also Tip Ventures-backed Kapiva.Nathabit has actually reportedly intercrossed an annualised income rate of Rs 100 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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