.Rep imageBeauty as well as individual care company Honasa Buyer-- the moms and dad company of Mamaearth-- is actually stopping its ayurvedic beauty label Ayuga.In an earnings discussion on Friday, Honasa Individual mentioned it can not create a product-market match and started sunsetting the brand from June this year.Following the ending of Ayuga, Honasa Customer will possess six companies in its own profile-- Mamaearth, its own largest label, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the firm offers colour cosmetics products.Honasa Customer stated a 19% year-on-year rise in operating earnings for the April-June duration to Rs 554 crore, while internet income climbed 62% on year to Rs 40 crore.In the presentation, Honasa said Ayuga was released to launch ayurvedic appeal items in modern-day formats for Indian millennials back in December 2021. The brand was actually overhauled two years later on, based on consumer reviews, it added.However, the brand fell short to obtain any kind of footing in spite of the modifications. Ayuga was actually an online only brand.Other new-age brand names in the ayurveda-focused beauty and also private care space consist of Top XV Allies as well as Fireplace Ventures-backed Nathabit, Perception Ventures-backed The Ayurveda Provider, as well as Tip Ventures-backed Kapiva.Nathabit has reportedly intercrossed an annualised earnings rate of Rs 100 crore in FY24, while Kapiva stated Rs 114 crore in operating profits in FY23.
Released On Aug 10, 2024 at 01:18 PM IST.
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