.Representative imageBeauty and also personal treatment business Honasa Consumer-- the parent body of Mamaearth-- is terminating its own ayurvedic elegance company Ayuga.In an incomes presentation on Friday, Honasa Individual mentioned it could not set up a product-market fit as well as began sunsetting the brand name coming from June this year.Following the ending of Ayuga, Honasa Customer are going to possess 6 brands in its collection-- Mamaearth, its largest company, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the provider markets colour cosmetics products.Honasa Consumer mentioned a 19% year-on-year rise in operating profits for the April-June time frame to Rs 554 crore, while internet revenue climbed 62% on year to Rs 40 crore.In the presentation, Honasa stated Ayuga was launched to launch ayurvedic beauty items in modern-day formats for Indian millennials back in December 2021. The label was actually spruced up 2 years later, based on consumer comments, it added.However, the brand name fell short to obtain any footing even with the improvements. Ayuga was actually an online only brand.Other new-age brands in the ayurveda-focused beauty and individual care area feature Top XV Allies and Fireside Ventures-backed Nathabit, Clairvoyance Ventures-backed The Ayurveda Firm, as well as Tip Ventures-backed Kapiva.Nathabit has apparently intercrossed an annualised earnings rate 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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