.Agent imageBeauty as well as individual treatment firm Honasa Buyer-- the moms and dad company of Mamaearth-- is discontinuing its own ayurvedic elegance label Ayuga.In a profits discussion on Friday, Honasa Individual mentioned it could possibly certainly not establish a product-market match and began sunsetting the brand name coming from June this year.Following the ending of Ayuga, Honasa Individual will possess 6 brands in its portfolio-- Mamaearth, its biggest company, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the firm offers colour cosmetics products.Honasa Individual disclosed a 19% year-on-year boost in operating income for the April-June time frame to Rs 554 crore, while net revenue climbed 62% on year to Rs 40 crore.In the presentation, Honasa stated Ayuga was released to present ayurvedic charm items in modern styles for Indian millennials back in December 2021. The company was actually spruced up 2 years later, based upon customer reviews, it added.However, the brand name stopped working to get any sort of grip even with the modifications. Ayuga was an online merely brand.Other new-age companies in the ayurveda-focused appeal and personal care area feature Height XV Allies and Fireside Ventures-backed Nathabit, Second Sight Ventures-backed The Ayurveda Business, as well as Vertex Ventures-backed Kapiva.Nathabit has actually reportedly intercrossed an annualised revenue cost of Rs one hundred crore in FY24, while Kapiva mentioned Rs 114 crore in operating earnings in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
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