.Agent imageBeauty and also individual treatment business Honasa Customer-- the moms and dad body of Mamaearth-- is actually discontinuing its own ayurvedic appeal company Ayuga.In an earnings discussion on Friday, Honasa Individual stated it could possibly not establish a product-market match and started sunsetting the brand name from June this year.Following the discontinuation of Ayuga, Honasa Consumer will possess 6 labels in its own portfolio-- Mamaearth, its largest company, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the provider markets colour cosmetics products.Honasa Buyer stated a 19% year-on-year increase in operating income for the April-June period to Rs 554 crore, while net revenue increased 62% on year to Rs 40 crore.In the discussion, Honasa pointed out Ayuga was launched to introduce ayurvedic charm products in modern layouts for Indian millennials back in December 2021. The company was actually remodelled two years later on, based on individual comments, it added.However, the label failed to get any sort of footing despite the modifications. Ayuga was actually an online merely brand.Other new-age brand names in the ayurveda-focused beauty and also individual treatment area consist of Top XV Allies as well as Fireplace Ventures-backed Nathabit, Sixth Sense Ventures-backed The Ayurveda Business, as well as Tip Ventures-backed Kapiva.Nathabit has actually supposedly crossed an annualised earnings fee of Rs 100 crore in FY24, while Kapiva disclosed Rs 114 crore in operating profits in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
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