.Rep imageBeauty and also individual treatment firm Honasa Buyer-- the parent facility of Mamaearth-- is terminating its own ayurvedic elegance label Ayuga.In a revenues presentation on Friday, Honasa Customer said it can certainly not set up a product-market match as well as started sunsetting the brand name coming from June this year.Following the discontinuation of Ayuga, Honasa Buyer will definitely have 6 companies in its own portfolio-- Mamaearth, its own largest company, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the company sells colour cosmetics products.Honasa Individual stated a 19% year-on-year increase in operating income for the April-June duration to Rs 554 crore, while internet earnings increased 62% on year to Rs 40 crore.In the presentation, Honasa mentioned Ayuga was actually released to present ayurvedic elegance products in modern styles for Indian millennials back in December 2021. The brand was remodelled pair of years later on, based upon consumer responses, it added.However, the company stopped working to obtain any type of traction regardless of the improvements. Ayuga was an online merely brand.Other new-age labels in the ayurveda-focused elegance and individual treatment room consist of Optimal XV Allies and also Fireplace Ventures-backed Nathabit, Extrasensory Perception Ventures-backed The Ayurveda Company, and also Tip Ventures-backed Kapiva.Nathabit has actually reportedly crossed an annualised income cost of Rs 100 crore in FY24, while Kapiva reported Rs 114 crore in operating profits in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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