.Rep imageBeauty and private care provider Honasa Consumer-- the parent facility of Mamaearth-- is ceasing its ayurvedic charm brand name Ayuga.In a profits discussion on Friday, Honasa Individual said it can not set up a product-market match and began sunsetting the label coming from June this year.Following the discontinuation of Ayuga, Honasa Consumer are going to possess 6 companies in its own profile-- Mamaearth, its biggest label, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the business markets colour cosmetics products.Honasa Individual stated a 19% year-on-year boost in operating profits for the April-June time period to Rs 554 crore, while internet income rose 62% on year to Rs 40 crore.In the presentation, Honasa stated Ayuga was actually introduced to launch ayurvedic beauty products in contemporary formats for Indian millennials back in December 2021. The company was actually spruced up pair of years eventually, based upon individual comments, it added.However, the brand fell short to get any type of footing in spite of the changes. Ayuga was an online only brand.Other new-age brand names in the ayurveda-focused beauty as well as private care room feature Optimal XV Partners as well as Fireside Ventures-backed Nathabit, Intuition Ventures-backed The Ayurveda Firm, and Tip Ventures-backed Kapiva.Nathabit has actually reportedly crossed an annualised income fee of Rs one hundred crore in FY24, while Kapiva mentioned Rs 114 crore in operating profits in FY23.
Released On Aug 10, 2024 at 01:18 PM IST.
Join the neighborhood of 2M+ field experts.Subscribe to our e-newsletter to acquire latest understandings & evaluation.
Download And Install ETRetail Application.Acquire Realtime updates.Save your favourite write-ups.
Scan to download and install App.