.Rep imageBeauty as well as personal care provider Honasa Consumer-- the parent company of Mamaearth-- is discontinuing its ayurvedic beauty company Ayuga.In a profits discussion on Friday, Honasa Individual said it could possibly not set up a product-market match and also started sunsetting the label coming from June this year.Following the ending of Ayuga, Honasa Customer will certainly have six brands in its own portfolio-- Mamaearth, its own biggest brand, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the firm offers colour cosmetics products.Honasa Buyer mentioned a 19% year-on-year increase in operating earnings for the April-June duration to Rs 554 crore, while internet revenue increased 62% on year to Rs 40 crore.In the presentation, Honasa pointed out Ayuga was launched to present ayurvedic beauty items in contemporary layouts for Indian millennials back in December 2021. The brand was revamped 2 years eventually, based on buyer responses, it added.However, the brand name neglected to get any kind of traction even with the adjustments. Ayuga was actually an online just brand.Other new-age companies in the ayurveda-focused elegance as well as personal treatment room feature Height XV Allies and Fireplace Ventures-backed Nathabit, Extrasensory Perception Ventures-backed The Ayurveda Company, as well as Vertex Ventures-backed Kapiva.Nathabit has actually supposedly crossed an annualised profits price of Rs one hundred crore in FY24, while Kapiva mentioned Rs 114 crore in operating revenue in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
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