.Representative imageBeauty as well as private treatment provider Honasa Individual-- the moms and dad body of Mamaearth-- is terminating its own ayurvedic charm label Ayuga.In an earnings discussion on Friday, Honasa Customer said it could certainly not develop a product-market match and began sunsetting the brand name from June this year.Following the discontinuation of Ayuga, Honasa Buyer will possess 6 labels in its profile-- Mamaearth, its biggest brand name, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, as well as Staze, under which the provider markets colour cosmetics products.Honasa Customer stated a 19% year-on-year boost in operating profits for the April-June period to Rs 554 crore, while internet earnings increased 62% on year to Rs 40 crore.In the presentation, Honasa claimed Ayuga was launched to offer ayurvedic elegance items in modern-day layouts for Indian millennials back in December 2021. The brand was revamped pair of years later, based on consumer responses, it added.However, the brand fell short to receive any traction regardless of the modifications. Ayuga was actually an online merely brand.Other new-age companies in the ayurveda-focused beauty as well as private treatment space consist of Optimal XV Partners and also Fireside Ventures-backed Nathabit, Intuition Ventures-backed The Ayurveda Company, as well as Tip Ventures-backed Kapiva.Nathabit has actually apparently intercrossed an annualised revenue fee of Rs one hundred 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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