.Representative imageBeauty and also private care company Honasa Customer-- the moms and dad facility of Mamaearth-- is actually stopping its ayurvedic charm brand name Ayuga.In an incomes discussion on Friday, Honasa Consumer stated it can not establish a product-market match and started sunsetting the company coming from June this year.Following the ending of Ayuga, Honasa Buyer are going to have 6 labels in its profile-- Mamaearth, its own biggest company, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the business sells colour cosmetics products.Honasa Buyer mentioned a 19% year-on-year increase in operating profits for the April-June time frame to Rs 554 crore, while net profit increased 62% on year to Rs 40 crore.In the discussion, Honasa said Ayuga was actually introduced to launch ayurvedic charm products in modern-day formats for Indian millennials back in December 2021. The company was remodelled two years eventually, based upon individual reviews, it added.However, the company fell short to obtain any sort of footing regardless of the changes. Ayuga was an online only brand.Other new-age brands in the ayurveda-focused elegance and also individual treatment area consist of Peak XV Allies and also Fireside Ventures-backed Nathabit, Intuitiveness Ventures-backed The Ayurveda Business, and Vertex Ventures-backed Kapiva.Nathabit has actually apparently crossed an annualised income rate of Rs one hundred crore in FY24, while Kapiva mentioned Rs 114 crore in operating earnings in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
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