.Representative imageBeauty and individual treatment firm Honasa Customer-- the moms and dad company of Mamaearth-- is ceasing its own ayurvedic appeal brand name Ayuga.In a profits presentation on Friday, Honasa Individual said it could possibly not establish a product-market fit and began sunsetting the brand name coming from June this year.Following the discontinuation of Ayuga, Honasa Customer will certainly possess 6 labels in its collection-- Mamaearth, its most extensive brand, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, as well as Staze, under which the provider offers colour cosmetics products.Honasa Consumer disclosed a 19% year-on-year boost in operating profits for the April-June duration to Rs 554 crore, while net profit rose 62% on year to Rs 40 crore.In the discussion, Honasa claimed Ayuga was introduced to present ayurvedic appeal items in modern-day formats for Indian millennials back in December 2021. The label was actually remodelled pair of years later, based upon customer feedback, it added.However, the brand name fell short to get any footing even with the modifications. Ayuga was actually an online simply brand.Other new-age companies in the ayurveda-focused beauty and personal treatment area include Optimal XV Allies and also Fireplace Ventures-backed Nathabit, Sixth Sense Ventures-backed The Ayurveda Firm, and also Tip Ventures-backed Kapiva.Nathabit has actually supposedly intercrossed an annualised income cost of Rs 100 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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