.Rep imageBeauty and private care firm Honasa Consumer-- the moms and dad body of Mamaearth-- is actually terminating its ayurvedic appeal label Ayuga.In a profits presentation on Friday, Honasa Consumer stated it might certainly not set up a product-market fit and began sunsetting the brand from June this year.Following the ending of Ayuga, Honasa Individual will definitely possess six companies in its profile-- Mamaearth, its own biggest brand name, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the company markets colour cosmetics products.Honasa Buyer reported a 19% year-on-year increase in operating earnings for the April-June time period to Rs 554 crore, while internet revenue rose 62% on year to Rs 40 crore.In the discussion, Honasa mentioned Ayuga was actually introduced to offer ayurvedic beauty products in modern-day formats for Indian millennials back in December 2021. The brand name was actually spruced up two years later, based on consumer responses, it added.However, the company neglected to acquire any type of grip even with the modifications. Ayuga was actually an online simply brand.Other new-age labels in the ayurveda-focused elegance and also private treatment space include Top XV Allies and also Fireside Ventures-backed Nathabit, Second Sight Ventures-backed The Ayurveda Company, and also Vertex Ventures-backed Kapiva.Nathabit has actually supposedly crossed an annualised profits fee of Rs 100 crore in FY24, while Kapiva stated Rs 114 crore in operating profits in FY23.
Released On Aug 10, 2024 at 01:18 PM IST.
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