.Representative imageBeauty and personal treatment firm Honasa Consumer-- the parent entity of Mamaearth-- is discontinuing its ayurvedic appeal company Ayuga.In a revenues discussion on Friday, Honasa Customer said it might not set up a product-market fit and began sunsetting the brand coming from June this year.Following the ending of Ayuga, Honasa Consumer will definitely possess 6 brand names in its portfolio-- Mamaearth, its largest label, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the provider sells colour cosmetics products.Honasa Consumer stated a 19% year-on-year boost in operating profits for the April-June time frame to Rs 554 crore, while net income climbed 62% on year to Rs 40 crore.In the presentation, Honasa claimed Ayuga was actually launched to present ayurvedic elegance items in contemporary layouts for Indian millennials back in December 2021. The label was actually renewed pair of years later on, based on customer responses, it added.However, the company stopped working to obtain any type of footing regardless of the adjustments. Ayuga was an online simply brand.Other new-age brands in the ayurveda-focused elegance as well as personal care space consist of Peak XV Allies and also Fireplace Ventures-backed Nathabit, Intuitiveness Ventures-backed The Ayurveda Provider, and Vertex Ventures-backed Kapiva.Nathabit has apparently intercrossed an annualised revenue cost 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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