.Rep imageBeauty and also personal treatment business Honasa Consumer-- the parent entity of Mamaearth-- is actually terminating its own ayurvedic appeal brand Ayuga.In a profits presentation on Friday, Honasa Individual mentioned it could possibly certainly not set up a product-market match as well as started sunsetting the brand coming from June this year.Following the ending of Ayuga, Honasa Customer will have six labels in its collection-- Mamaearth, its largest brand name, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the firm offers colour cosmetics products.Honasa Buyer mentioned a 19% year-on-year increase in operating income for the April-June duration to Rs 554 crore, while web revenue increased 62% on year to Rs 40 crore.In the presentation, Honasa mentioned Ayuga was actually introduced to launch ayurvedic beauty products in modern styles for Indian millennials back in December 2021. The company was actually spruced up 2 years eventually, based upon customer responses, it added.However, the brand name stopped working to acquire any kind of grip in spite of the adjustments. Ayuga was actually an online merely brand.Other new-age companies in the ayurveda-focused beauty and also individual care room feature Height XV Allies and Fireside Ventures-backed Nathabit, Sixth Sense Ventures-backed The Ayurveda Business, as well as Tip Ventures-backed Kapiva.Nathabit has actually apparently intercrossed an annualised earnings cost of Rs one hundred crore in FY24, while Kapiva mentioned Rs 114 crore in operating profits in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
Sign up with the area of 2M+ field experts.Sign up for our newsletter to get most up-to-date insights & evaluation.
Download ETRetail Application.Get Realtime updates.Spare your preferred write-ups.
Check to download and install Application.