.Agent imageBeauty and also private treatment firm Honasa Buyer-- the moms and dad body of Mamaearth-- is terminating its ayurvedic charm brand name Ayuga.In an earnings presentation on Friday, Honasa Consumer stated it might not establish a product-market fit as well as began sunsetting the brand name from June this year.Following the discontinuation of Ayuga, Honasa Individual will definitely have 6 brands in its collection-- Mamaearth, its most extensive brand name, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, as well as Staze, under which the business offers colour cosmetics products.Honasa Consumer stated a 19% year-on-year boost in operating earnings for the April-June time frame to Rs 554 crore, while internet profit rose 62% on year to Rs 40 crore.In the discussion, Honasa mentioned Ayuga was actually released to offer ayurvedic beauty products in modern-day styles for Indian millennials back in December 2021. The brand was remodelled 2 years later on, based on individual comments, it added.However, the company failed to acquire any grip in spite of the adjustments. Ayuga was actually an online just brand.Other new-age labels in the ayurveda-focused elegance as well as private care space include Height XV Allies and Fireside Ventures-backed Nathabit, Perception Ventures-backed The Ayurveda Provider, as well as Tip Ventures-backed Kapiva.Nathabit has actually apparently crossed an annualised earnings rate of Rs one hundred crore in FY24, while Kapiva stated Rs 114 crore in operating earnings in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
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