.Representative imageBeauty as well as individual care firm Honasa Consumer-- the moms and dad entity of Mamaearth-- is terminating its ayurvedic elegance company Ayuga.In an earnings discussion on Friday, Honasa Consumer said it could certainly not establish a product-market fit and began sunsetting the label coming from June this year.Following the discontinuation of Ayuga, Honasa Consumer will possess six brand names in its own profile-- Mamaearth, its own most extensive company, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the company offers colour cosmetics products.Honasa Individual disclosed a 19% year-on-year increase in operating income for the April-June duration to Rs 554 crore, while web profit climbed 62% on year to Rs 40 crore.In the presentation, Honasa said Ayuga was introduced to introduce ayurvedic beauty items in modern-day layouts for Indian millennials back in December 2021. The brand name was overhauled 2 years later, based on customer reviews, it added.However, the brand stopped working to receive any grip even with the improvements. Ayuga was actually an online merely brand.Other new-age companies in the ayurveda-focused elegance as well as personal care room feature Peak XV Partners as well as Fireplace Ventures-backed Nathabit, Intuitiveness Ventures-backed The Ayurveda Business, and Tip Ventures-backed Kapiva.Nathabit has actually supposedly crossed an annualised profits fee of Rs one hundred crore in FY24, while Kapiva stated Rs 114 crore in operating income in FY23.
Released On Aug 10, 2024 at 01:18 PM IST.
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