.Representative imageBeauty and also personal care provider Honasa Consumer-- the moms and dad entity of Mamaearth-- is actually terminating its own ayurvedic beauty label Ayuga.In a profits presentation on Friday, Honasa Individual claimed it might not develop a product-market match and also started sunsetting the brand name coming from June this year.Following the ending of Ayuga, Honasa Customer will certainly have 6 brands in its own profile-- Mamaearth, its largest label, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the firm markets colour cosmetics products.Honasa Consumer reported a 19% year-on-year boost in operating earnings for the April-June time period to Rs 554 crore, while web earnings increased 62% on year to Rs 40 crore.In the discussion, Honasa pointed out Ayuga was actually introduced to launch ayurvedic elegance items in modern styles for Indian millennials back in December 2021. The label was actually renewed 2 years later, based upon customer comments, it added.However, the company stopped working to get any traction despite the adjustments. Ayuga was actually an online just brand.Other new-age companies in the ayurveda-focused charm and private care room include Height XV Partners and Fireside Ventures-backed Nathabit, Premonition Ventures-backed The Ayurveda Firm, as well as Tip Ventures-backed Kapiva.Nathabit has actually supposedly crossed an annualised earnings fee of Rs 100 crore in FY24, while Kapiva mentioned Rs 114 crore in operating revenue in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
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