.Representative imageBeauty and also private care company Honasa Customer-- the moms and dad entity of Mamaearth-- is terminating its ayurvedic charm company Ayuga.In a profits discussion on Friday, Honasa Consumer mentioned it could not develop a product-market match as well as started sunsetting the brand name from June this year.Following the discontinuation of Ayuga, Honasa Individual will certainly have 6 labels in its profile-- Mamaearth, its own biggest label, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, as well as Staze, under which the provider markets colour cosmetics products.Honasa Customer reported a 19% year-on-year increase in operating income for the April-June time period to Rs 554 crore, while net earnings climbed 62% on year to Rs 40 crore.In the presentation, Honasa stated Ayuga was actually introduced to present ayurvedic charm items in contemporary styles for Indian millennials back in December 2021. The brand was actually spruced up pair of years later, based upon customer responses, it added.However, the company fell short to receive any kind of footing in spite of the modifications. Ayuga was an online merely brand.Other new-age companies in the ayurveda-focused charm and also personal care room consist of Optimal XV Allies as well as Fireplace Ventures-backed Nathabit, Perception Ventures-backed The Ayurveda Firm, and also Vertex Ventures-backed Kapiva.Nathabit has actually supposedly intercrossed an annualised revenue rate of Rs one hundred crore in FY24, while Kapiva disclosed Rs 114 crore in operating revenue in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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