.Representative imageBeauty as well as private treatment provider Honasa Customer-- the parent body of Mamaearth-- is actually discontinuing its own ayurvedic elegance label Ayuga.In a revenues discussion on Friday, Honasa Buyer said it can not develop a product-market match and began sunsetting the brand name from June this year.Following the ending of Ayuga, Honasa Individual will definitely have six labels in its own portfolio-- Mamaearth, its most extensive brand name, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the provider sells colour cosmetics products.Honasa Individual stated a 19% year-on-year boost in operating income for the April-June period to Rs 554 crore, while web earnings climbed 62% on year to Rs 40 crore.In the presentation, Honasa stated Ayuga was actually released to launch ayurvedic charm items in modern-day layouts for Indian millennials back in December 2021. The brand name was renewed two years later, based upon customer feedback, it added.However, the brand stopped working to obtain any sort of traction despite the improvements. Ayuga was an online only brand.Other new-age brands in the ayurveda-focused elegance as well as private care space feature Height XV Allies as well as Fireside Ventures-backed Nathabit, Intuitiveness Ventures-backed The Ayurveda Firm, as well as Vertex Ventures-backed Kapiva.Nathabit has actually reportedly intercrossed an annualised income rate of Rs one hundred crore in FY24, while Kapiva mentioned Rs 114 crore in operating revenue in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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