.Agent imageBeauty and also individual treatment company Honasa Buyer-- the parent body of Mamaearth-- is actually discontinuing its own ayurvedic beauty brand Ayuga.In an earnings discussion on Friday, Honasa Consumer said it could possibly not create a product-market fit as well as began sunsetting the company from June this year.Following the discontinuation of Ayuga, Honasa Individual will certainly have six companies in its own profile-- Mamaearth, its biggest label, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the business markets colour cosmetics products.Honasa Individual stated a 19% year-on-year rise in operating income for the April-June time frame to Rs 554 crore, while internet earnings climbed 62% on year to Rs 40 crore.In the discussion, Honasa pointed out Ayuga was actually introduced to offer ayurvedic beauty products in modern-day layouts for Indian millennials back in December 2021. The brand name was remodelled 2 years later on, based upon individual feedback, it added.However, the company stopped working to acquire any type of footing in spite of the improvements. Ayuga was an online only brand.Other new-age labels in the ayurveda-focused appeal as well as personal treatment space include Optimal XV Partners and Fireside Ventures-backed Nathabit, Intuition Ventures-backed The Ayurveda Business, and also Vertex Ventures-backed Kapiva.Nathabit has actually apparently intercrossed an annualised profits rate of Rs 100 crore in FY24, while Kapiva stated Rs 114 crore in operating income in FY23.
Released On Aug 10, 2024 at 01:18 PM IST.
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