.Representative imageBeauty as well as private care firm Honasa Buyer-- the moms and dad body of Mamaearth-- is actually stopping its own ayurvedic charm brand Ayuga.In a profits presentation on Friday, Honasa Consumer mentioned it might certainly not develop a product-market fit and started sunsetting the brand name coming from June this year.Following the ending of Ayuga, Honasa Customer will definitely possess 6 brand names in its portfolio-- Mamaearth, its most extensive brand, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, as well as Staze, under which the business markets colour cosmetics products.Honasa Individual mentioned a 19% year-on-year boost in operating income for the April-June period to Rs 554 crore, while web profit increased 62% on year to Rs 40 crore.In the presentation, Honasa claimed Ayuga was introduced to introduce ayurvedic beauty products in modern-day layouts for Indian millennials back in December 2021. The brand was actually renewed pair of years eventually, based on buyer feedback, it added.However, the brand neglected to receive any type of traction in spite of the changes. Ayuga was actually an online simply brand.Other new-age brands in the ayurveda-focused charm as well as private treatment space include Top XV Partners and also Fireside Ventures-backed Nathabit, Extrasensory Perception Ventures-backed The Ayurveda Company, and also Tip Ventures-backed Kapiva.Nathabit has actually supposedly crossed an annualised income price of Rs one hundred crore in FY24, while Kapiva reported Rs 114 crore in operating earnings in FY23.
Released On Aug 10, 2024 at 01:18 PM IST.
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