.Representative imageBeauty as well as personal care firm Honasa Customer-- the parent facility of Mamaearth-- is actually terminating its own ayurvedic elegance label Ayuga.In an incomes discussion on Friday, Honasa Individual said it might not set up a product-market fit and started sunsetting the brand from June this year.Following the ending of Ayuga, Honasa Buyer will possess 6 brand names in its own portfolio-- Mamaearth, its largest brand name, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the provider sells colour cosmetics products.Honasa Individual disclosed a 19% year-on-year boost in operating earnings for the April-June period to Rs 554 crore, while internet earnings climbed 62% on year to Rs 40 crore.In the presentation, Honasa mentioned Ayuga was introduced to launch ayurvedic elegance products in modern-day layouts for Indian millennials back in December 2021. The label was spruced up 2 years later, based on individual feedback, it added.However, the brand name stopped working to receive any type of traction even with the changes. Ayuga was an online merely brand.Other new-age brand names in the ayurveda-focused beauty as well as personal treatment area feature Height XV Allies and also Fireplace Ventures-backed Nathabit, Clairvoyance Ventures-backed The Ayurveda Provider, and Tip Ventures-backed Kapiva.Nathabit has reportedly intercrossed an annualised revenue rate of Rs 100 crore in FY24, while Kapiva mentioned Rs 114 crore in operating profits in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
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