.Agent imageBeauty and also personal care provider Honasa Individual-- the parent facility of Mamaearth-- is stopping its ayurvedic elegance brand name Ayuga.In an earnings discussion on Friday, Honasa Buyer mentioned it might not create a product-market fit and began sunsetting the brand name from June this year.Following the discontinuation of Ayuga, Honasa Individual will possess 6 labels in its portfolio-- Mamaearth, its own largest brand name, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the firm markets colour cosmetics products.Honasa Buyer mentioned a 19% year-on-year rise in operating earnings for the April-June time period to Rs 554 crore, while net income rose 62% on year to Rs 40 crore.In the presentation, Honasa claimed Ayuga was introduced to offer ayurvedic elegance items in modern layouts for Indian millennials back in December 2021. The label was actually overhauled 2 years later, based upon individual feedback, it added.However, the brand name stopped working to obtain any sort of footing regardless of the improvements. Ayuga was an online merely brand.Other new-age brands in the ayurveda-focused charm and individual care room include Top XV Partners and Fireplace Ventures-backed Nathabit, Extrasensory Perception Ventures-backed The Ayurveda Company, and Tip Ventures-backed Kapiva.Nathabit has actually reportedly intercrossed an annualised earnings rate of Rs 100 crore in FY24, while Kapiva stated Rs 114 crore in operating profits in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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