.Rep imageBeauty and also individual care business Honasa Individual-- the parent entity of Mamaearth-- is ceasing its ayurvedic charm brand name Ayuga.In an earnings discussion on Friday, Honasa Individual claimed it could certainly not establish a product-market fit and also started sunsetting the label from June this year.Following the ending of Ayuga, Honasa Customer will definitely possess 6 companies in its own collection-- Mamaearth, its most extensive brand name, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the firm sells colour cosmetics products.Honasa Buyer mentioned a 19% year-on-year boost in operating profits for the April-June duration to Rs 554 crore, while internet profit climbed 62% on year to Rs 40 crore.In the discussion, Honasa pointed out Ayuga was actually introduced to introduce ayurvedic elegance items in present day styles for Indian millennials back in December 2021. The company was actually overhauled two years later, based on individual feedback, it added.However, the label stopped working to receive any traction even with the changes. Ayuga was an online only brand.Other new-age brands in the ayurveda-focused appeal and individual care space consist of Top XV Allies and Fireplace Ventures-backed Nathabit, Second Sight Ventures-backed The Ayurveda Company, and also Vertex Ventures-backed Kapiva.Nathabit has actually apparently intercrossed an annualised revenue rate of Rs one hundred crore in FY24, while Kapiva reported Rs 114 crore in operating revenue in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
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