.Agent imageBeauty as well as individual care firm Honasa Consumer-- the parent company of Mamaearth-- is stopping its ayurvedic charm brand Ayuga.In an earnings presentation on Friday, Honasa Individual said it might certainly not set up a product-market match as well as started sunsetting the label coming from June this year.Following the ending of Ayuga, Honasa Customer will certainly have 6 brand names in its own profile-- Mamaearth, its own biggest brand, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, as well as Staze, under which the firm offers colour cosmetics products.Honasa Customer disclosed a 19% year-on-year boost in operating income for the April-June period to Rs 554 crore, while internet earnings rose 62% on year to Rs 40 crore.In the presentation, Honasa said Ayuga was introduced to present ayurvedic beauty products in modern-day styles for Indian millennials back in December 2021. The label was actually spruced up two years eventually, based upon customer feedback, it added.However, the company fell short to receive any traction in spite of the modifications. Ayuga was actually an online just brand.Other new-age companies in the ayurveda-focused appeal and also individual care area feature Peak XV Allies and Fireside Ventures-backed Nathabit, Clairvoyance Ventures-backed The Ayurveda Business, and Vertex Ventures-backed Kapiva.Nathabit has actually apparently crossed an annualised revenue fee of Rs one hundred crore in FY24, while Kapiva stated Rs 114 crore in operating earnings in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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