.Agent imageBeauty and personal care company Honasa Individual-- the parent body of Mamaearth-- is actually ceasing its own ayurvedic elegance label Ayuga.In an incomes discussion on Friday, Honasa Consumer mentioned it can certainly not establish a product-market match and also started sunsetting the brand coming from June this year.Following the discontinuation of Ayuga, Honasa Consumer will possess six companies in its portfolio-- Mamaearth, its most extensive brand, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the provider sells colour cosmetics products.Honasa Buyer stated a 19% year-on-year boost in operating profits for the April-June time period to Rs 554 crore, while net revenue increased 62% on year to Rs 40 crore.In the presentation, Honasa mentioned Ayuga was launched to launch ayurvedic charm items in contemporary styles for Indian millennials back in December 2021. The label was renewed 2 years eventually, based on buyer comments, it added.However, the brand name stopped working to receive any kind of traction despite the improvements. Ayuga was actually an online only brand.Other new-age brands in the ayurveda-focused beauty and individual care space consist of Top XV Allies and also Fireside Ventures-backed Nathabit, Second Sight Ventures-backed The Ayurveda Company, as well as Vertex Ventures-backed Kapiva.Nathabit has apparently intercrossed an annualised revenue cost of Rs one hundred crore in FY24, while Kapiva mentioned Rs 114 crore in operating profits in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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