.Representative imageBeauty and individual treatment company Honasa Consumer-- the moms and dad facility of Mamaearth-- is actually ceasing its own ayurvedic appeal label Ayuga.In a revenues presentation on Friday, Honasa Individual said it could certainly not develop a product-market fit and began sunsetting the brand coming from June this year.Following the ending of Ayuga, Honasa Customer will certainly have six brands in its own portfolio-- Mamaearth, its biggest brand name, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the company offers colour cosmetics products.Honasa Customer stated a 19% year-on-year increase in operating profits for the April-June time frame to Rs 554 crore, while internet profit climbed 62% on year to Rs 40 crore.In the discussion, Honasa mentioned Ayuga was actually released to present ayurvedic beauty products in present day layouts for Indian millennials back in December 2021. The brand was actually remodelled 2 years eventually, based on customer reviews, it added.However, the label failed to get any grip in spite of the improvements. Ayuga was actually an online merely brand.Other new-age labels in the ayurveda-focused charm and also private care area consist of Top XV Partners as well as Fireside Ventures-backed Nathabit, Instinct Ventures-backed The Ayurveda Business, and also Vertex Ventures-backed Kapiva.Nathabit has reportedly intercrossed an annualised profits cost of Rs one hundred crore in FY24, while Kapiva reported Rs 114 crore in operating earnings in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
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