.Representative imageBeauty as well as private care provider Honasa Consumer-- the moms and dad company of Mamaearth-- is actually ceasing its ayurvedic beauty label Ayuga.In an earnings presentation on Friday, Honasa Individual stated it can certainly not create a product-market fit as well as started sunsetting the brand name from June this year.Following the ending of Ayuga, Honasa Customer are going to possess 6 brands in its own profile-- Mamaearth, its largest company, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, as well as Staze, under which the business sells colour cosmetics products.Honasa Individual disclosed a 19% year-on-year boost in operating income for the April-June time frame to Rs 554 crore, while web income increased 62% on year to Rs 40 crore.In the presentation, Honasa claimed Ayuga was actually introduced to launch ayurvedic elegance items in contemporary formats for Indian millennials back in December 2021. The company was actually renewed 2 years later on, based upon customer reviews, it added.However, the brand name stopped working to get any kind of traction regardless of the improvements. Ayuga was actually an online merely brand.Other new-age labels in the ayurveda-focused beauty as well as individual treatment room feature Height XV Partners and Fireside Ventures-backed Nathabit, Foreknowledge Ventures-backed The Ayurveda Provider, and Vertex Ventures-backed Kapiva.Nathabit has apparently intercrossed an annualised income price of Rs 100 crore in FY24, while Kapiva reported Rs 114 crore in operating earnings in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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