.Agent imageBeauty and also private care business Honasa Customer-- the parent facility of Mamaearth-- is stopping its ayurvedic appeal brand Ayuga.In an incomes discussion on Friday, Honasa Customer said it could not create a product-market match and began sunsetting the company from June this year.Following the discontinuation of Ayuga, Honasa Individual will certainly possess 6 labels in its own profile-- Mamaearth, its own most extensive brand name, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the provider markets colour cosmetics products.Honasa Consumer reported a 19% year-on-year rise in operating income for the April-June period to Rs 554 crore, while internet earnings increased 62% on year to Rs 40 crore.In the presentation, Honasa claimed Ayuga was actually introduced to launch ayurvedic beauty products in present day layouts for Indian millennials back in December 2021. The company was actually remodelled two years eventually, based on customer feedback, it added.However, the company fell short to obtain any type of footing in spite of the adjustments. Ayuga was actually an online merely brand.Other new-age labels in the ayurveda-focused appeal and personal care room consist of Peak XV Allies and also Fireplace Ventures-backed Nathabit, Intuitiveness Ventures-backed The Ayurveda Provider, and Vertex Ventures-backed Kapiva.Nathabit has actually apparently crossed an annualised revenue cost of Rs one hundred crore in FY24, while Kapiva reported Rs 114 crore in operating profits in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
Join the area of 2M+ field professionals.Register for our newsletter to acquire most up-to-date understandings & review.
Download ETRetail App.Acquire Realtime updates.Save your favourite posts.
Scan to download and install Application.