.Agent imageBeauty and also individual treatment company Honasa Individual-- the moms and dad company of Mamaearth-- is discontinuing its ayurvedic charm company Ayuga.In a profits discussion on Friday, Honasa Buyer stated it could possibly not develop a product-market fit and also started sunsetting the brand coming from June this year.Following the ending of Ayuga, Honasa Customer will certainly have six labels in its portfolio-- Mamaearth, its biggest brand, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, as well as Staze, under which the business markets colour cosmetics products.Honasa Customer reported a 19% year-on-year boost in operating income for the April-June time frame to Rs 554 crore, while web revenue climbed 62% on year to Rs 40 crore.In the presentation, Honasa said Ayuga was launched to offer ayurvedic beauty products in modern-day formats for Indian millennials back in December 2021. The brand was actually remodelled two years later, based upon buyer feedback, it added.However, the company neglected to acquire any kind of grip even with the adjustments. Ayuga was an online only brand.Other new-age labels in the ayurveda-focused appeal and also private care room include Top XV Allies and Fireplace Ventures-backed Nathabit, Foreknowledge Ventures-backed The Ayurveda Provider, and also Vertex Ventures-backed Kapiva.Nathabit has supposedly crossed an annualised income rate of Rs 100 crore in FY24, while Kapiva disclosed Rs 114 crore in operating earnings in FY23.
Released On Aug 10, 2024 at 01:18 PM IST.
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