.Rep imageBeauty as well as individual care company Honasa Buyer-- the parent entity of Mamaearth-- is stopping its ayurvedic charm brand name Ayuga.In an incomes discussion on Friday, Honasa Buyer said it could certainly not develop a product-market match as well as began sunsetting the company coming from June this year.Following the discontinuation of Ayuga, Honasa Consumer will possess six companies in its own collection-- Mamaearth, its own biggest brand name, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, as well as Staze, under which the business sells colour cosmetics products.Honasa Customer reported a 19% year-on-year rise in operating profits for the April-June period to Rs 554 crore, while internet income increased 62% on year to Rs 40 crore.In the discussion, Honasa claimed Ayuga was actually introduced to present ayurvedic beauty products in present day styles for Indian millennials back in December 2021. The label was actually renewed two years eventually, based upon customer reviews, it added.However, the brand name failed to get any sort of traction in spite of the modifications. Ayuga was an online just brand.Other new-age labels in the ayurveda-focused beauty as well as private care area include Top XV Allies and Fireside Ventures-backed Nathabit, Instinct Ventures-backed The Ayurveda Provider, as well as Vertex Ventures-backed Kapiva.Nathabit has apparently intercrossed an annualised profits price of Rs one hundred crore in FY24, while Kapiva reported Rs 114 crore in operating earnings in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
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