.Representative imageBeauty as well as private treatment business Honasa Individual-- the moms and dad company of Mamaearth-- is stopping its ayurvedic beauty company Ayuga.In a profits presentation on Friday, Honasa Consumer claimed it could not establish a product-market match and began sunsetting the brand coming from June this year.Following the ending of Ayuga, Honasa Customer are going to possess 6 brand names in its collection-- Mamaearth, its largest brand name, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the business offers colour cosmetics products.Honasa Customer stated a 19% year-on-year increase in operating income for the April-June time frame to Rs 554 crore, while internet revenue rose 62% on year to Rs 40 crore.In the discussion, Honasa claimed Ayuga was actually launched to offer ayurvedic charm products in present day styles for Indian millennials back in December 2021. The brand name was actually overhauled two years later on, based upon consumer comments, it added.However, the label neglected to get any sort of grip regardless of the improvements. Ayuga was actually an online just brand.Other new-age labels in the ayurveda-focused beauty as well as personal care room include Optimal XV Allies and also Fireplace Ventures-backed Nathabit, Perception Ventures-backed The Ayurveda Provider, and Tip Ventures-backed Kapiva.Nathabit has actually apparently crossed an annualised income fee of Rs one hundred crore in FY24, while Kapiva mentioned Rs 114 crore in operating income in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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