.Rep imageBeauty and also personal care business Honasa Consumer-- the moms and dad facility of Mamaearth-- is actually stopping its ayurvedic elegance brand Ayuga.In an incomes presentation on Friday, Honasa Individual said it could not establish a product-market match and began sunsetting the company from June this year.Following the discontinuation of Ayuga, Honasa Customer are going to possess 6 companies in its collection-- Mamaearth, its most extensive brand, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the firm sells colour cosmetics products.Honasa Buyer mentioned a 19% year-on-year increase in operating profits for the April-June period to Rs 554 crore, while web income rose 62% on year to Rs 40 crore.In the presentation, Honasa said Ayuga was launched to launch ayurvedic elegance items in contemporary layouts for Indian millennials back in December 2021. The brand was actually renewed 2 years later on, based upon consumer responses, it added.However, the label neglected to receive any type of footing despite the improvements. Ayuga was an online merely brand.Other new-age brands in the ayurveda-focused beauty and also individual care area feature Optimal XV Allies as well as Fireside Ventures-backed Nathabit, Premonition Ventures-backed The Ayurveda Firm, and also Tip Ventures-backed Kapiva.Nathabit has supposedly crossed an annualised earnings fee of Rs 100 crore in FY24, while Kapiva disclosed Rs 114 crore in operating profits in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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