.Representative imageBeauty as well as individual care firm Honasa Individual-- the parent entity of Mamaearth-- is discontinuing its ayurvedic charm brand name Ayuga.In a profits presentation on Friday, Honasa Buyer mentioned it could certainly not create a product-market fit as well as started sunsetting the label coming from June this year.Following the discontinuation of Ayuga, Honasa Buyer will certainly possess 6 companies in its own collection-- Mamaearth, its own most extensive company, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the business offers colour cosmetics products.Honasa Buyer reported a 19% year-on-year rise in operating earnings for the April-June time period to Rs 554 crore, while web profit climbed 62% on year to Rs 40 crore.In the presentation, Honasa mentioned Ayuga was introduced to introduce ayurvedic beauty products in modern-day layouts for Indian millennials back in December 2021. The label was revamped two years later on, based upon individual reviews, it added.However, the brand failed to obtain any traction in spite of the modifications. Ayuga was an online simply brand.Other new-age brands in the ayurveda-focused elegance as well as personal care room feature Height XV Partners and Fireside Ventures-backed Nathabit, Second Sight Ventures-backed The Ayurveda Business, as well as Vertex Ventures-backed Kapiva.Nathabit has supposedly intercrossed an annualised earnings cost of Rs 100 crore in FY24, while Kapiva disclosed Rs 114 crore in operating earnings in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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