.Rep imageBeauty and individual treatment provider Honasa Consumer-- the moms and dad company of Mamaearth-- is ceasing its own ayurvedic beauty label Ayuga.In a revenues discussion on Friday, Honasa Customer claimed it could possibly certainly not develop a product-market fit and began sunsetting the company coming from June this year.Following the ending of Ayuga, Honasa Consumer are going to have 6 brand names in its profile-- Mamaearth, its most extensive label, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the provider sells colour cosmetics products.Honasa Buyer reported a 19% year-on-year increase in operating earnings for the April-June time frame to Rs 554 crore, while web income rose 62% on year to Rs 40 crore.In the presentation, Honasa mentioned Ayuga was actually released to introduce ayurvedic appeal products in contemporary formats for Indian millennials back in December 2021. The brand name was actually remodelled pair of years later, based on consumer responses, it added.However, the brand name fell short to obtain any kind of footing in spite of the modifications. Ayuga was actually an online simply brand.Other new-age brand names in the ayurveda-focused elegance and also individual treatment area consist of Height XV Partners and Fireplace Ventures-backed Nathabit, Premonition Ventures-backed The Ayurveda Provider, as well as Tip Ventures-backed Kapiva.Nathabit has reportedly intercrossed an annualised earnings fee of Rs one hundred 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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