.Agent imageBeauty as well as individual care firm Honasa Individual-- the parent company of Mamaearth-- is stopping its ayurvedic elegance label Ayuga.In an incomes discussion on Friday, Honasa Customer mentioned it can not establish a product-market match as well as started sunsetting the brand from June this year.Following the discontinuation of Ayuga, Honasa Individual will possess 6 brands in its own profile-- Mamaearth, its most extensive company, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, as well as Staze, under which the provider markets colour cosmetics products.Honasa Individual mentioned a 19% year-on-year rise in operating earnings for the April-June time frame to Rs 554 crore, while internet revenue increased 62% on year to Rs 40 crore.In the presentation, Honasa mentioned Ayuga was actually introduced to launch ayurvedic elegance items in modern-day formats for Indian millennials back in December 2021. The brand was revamped 2 years eventually, based upon customer comments, it added.However, the brand name neglected to get any type of grip despite the improvements. Ayuga was an online only brand.Other new-age companies in the ayurveda-focused appeal as well as personal care area feature Top XV Partners and also Fireplace Ventures-backed Nathabit, Second Sight Ventures-backed The Ayurveda Company, as well as Vertex Ventures-backed Kapiva.Nathabit has apparently intercrossed an annualised earnings fee of Rs one hundred crore in FY24, while Kapiva mentioned Rs 114 crore in operating profits in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
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