.Representative imageBeauty and also private treatment provider Honasa Consumer-- the parent body of Mamaearth-- is ceasing its own ayurvedic elegance brand Ayuga.In an incomes discussion on Friday, Honasa Consumer mentioned it could possibly certainly not develop a product-market fit as well as started sunsetting the label from June this year.Following the discontinuation of Ayuga, Honasa Individual are going to have six labels in its profile-- Mamaearth, its own largest brand, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the business offers colour cosmetics products.Honasa Consumer reported a 19% year-on-year rise in operating earnings for the April-June time period to Rs 554 crore, while web revenue climbed 62% on year to Rs 40 crore.In the presentation, Honasa claimed Ayuga was actually introduced to offer ayurvedic elegance products in modern formats for Indian millennials back in December 2021. The label was overhauled pair of years later, based on individual responses, it added.However, the brand failed to obtain any type of grip regardless of the modifications. Ayuga was an online simply brand.Other new-age companies in the ayurveda-focused elegance as well as private care area feature Optimal XV Partners and Fireplace Ventures-backed Nathabit, Extrasensory Perception Ventures-backed The Ayurveda Business, as well as Tip Ventures-backed Kapiva.Nathabit has actually apparently crossed an annualised profits rate of Rs 100 crore in FY24, while Kapiva mentioned Rs 114 crore in operating earnings in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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