.Rep imageBeauty and also private treatment provider Honasa Consumer-- the parent company of Mamaearth-- is actually terminating its own ayurvedic appeal label Ayuga.In an incomes presentation on Friday, Honasa Customer stated it can certainly not set up a product-market fit and began sunsetting the brand from June this year.Following the ending of Ayuga, Honasa Consumer will certainly have 6 labels in its own collection-- Mamaearth, its biggest brand name, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the company sells colour cosmetics products.Honasa Buyer reported a 19% year-on-year rise in operating profits for the April-June period to Rs 554 crore, while web income increased 62% on year to Rs 40 crore.In the discussion, Honasa pointed out Ayuga was actually released to present ayurvedic appeal items in contemporary layouts for Indian millennials back in December 2021. The brand name was actually spruced up pair of years later on, based upon consumer reviews, it added.However, the brand name failed to get any kind of footing in spite of the modifications. Ayuga was an online just brand.Other new-age companies in the ayurveda-focused beauty and private treatment area feature Peak XV Partners and Fireplace Ventures-backed Nathabit, Foreknowledge Ventures-backed The Ayurveda Company, and also Tip Ventures-backed Kapiva.Nathabit has actually reportedly crossed an annualised profits price of Rs 100 crore in FY24, while Kapiva mentioned Rs 114 crore in operating earnings in FY23.
Released On Aug 10, 2024 at 01:18 PM IST.
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