.Rep imageBeauty as well as private care business Honasa Buyer-- the moms and dad entity of Mamaearth-- is actually ceasing its ayurvedic charm brand Ayuga.In an incomes presentation on Friday, Honasa Individual claimed it could certainly not set up a product-market fit and also began sunsetting the label coming from June this year.Following the ending of Ayuga, Honasa Individual will certainly possess six brand names in its profile-- Mamaearth, its own largest brand, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the provider markets colour cosmetics products.Honasa Consumer reported a 19% year-on-year boost in operating profits for the April-June period to Rs 554 crore, while net income climbed 62% on year to Rs 40 crore.In the presentation, Honasa claimed Ayuga was launched to present ayurvedic elegance items in contemporary styles for Indian millennials back in December 2021. The company was spruced up 2 years later, based on consumer responses, it added.However, the label fell short to get any traction in spite of the modifications. Ayuga was actually an online just brand.Other new-age brands in the ayurveda-focused elegance and private care space consist of Optimal XV Allies and Fireplace Ventures-backed Nathabit, Instinct Ventures-backed The Ayurveda Firm, and Tip Ventures-backed Kapiva.Nathabit has actually apparently intercrossed an annualised income rate of Rs 100 crore in FY24, while Kapiva disclosed Rs 114 crore in operating profits in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
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