.Representative imageBeauty and also individual treatment company Honasa Individual-- the parent facility of Mamaearth-- is actually discontinuing its ayurvedic beauty label Ayuga.In an incomes presentation on Friday, Honasa Consumer mentioned it could possibly not create a product-market fit and also started sunsetting the brand from June this year.Following the discontinuation of Ayuga, Honasa Individual will certainly possess 6 labels in its profile-- Mamaearth, its largest label, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, as well as Staze, under which the company sells colour cosmetics products.Honasa Customer disclosed a 19% year-on-year rise in operating profits for the April-June time frame to Rs 554 crore, while net income increased 62% on year to Rs 40 crore.In the discussion, Honasa stated Ayuga was actually launched to present ayurvedic elegance items in present day styles for Indian millennials back in December 2021. The brand was spruced up 2 years later on, based on customer comments, it added.However, the label fell short to obtain any grip regardless of the improvements. Ayuga was an online simply brand.Other new-age brand names in the ayurveda-focused elegance and also personal care room include Peak XV Allies and Fireside Ventures-backed Nathabit, Intuition Ventures-backed The Ayurveda Firm, and Vertex Ventures-backed Kapiva.Nathabit has supposedly intercrossed an annualised revenue price 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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