.Representative imageBeauty and also individual care business Honasa Individual-- the parent body of Mamaearth-- is actually stopping its own ayurvedic charm brand Ayuga.In an incomes presentation on Friday, Honasa Buyer stated it might not develop a product-market match as well as began sunsetting the company from June this year.Following the ending of Ayuga, Honasa Buyer will have six brands in its own portfolio-- Mamaearth, its own largest brand, The Derma Co, 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 rise in operating earnings for the April-June duration to Rs 554 crore, while web profit increased 62% on year to Rs 40 crore.In the discussion, Honasa mentioned Ayuga was introduced to introduce ayurvedic charm items in contemporary layouts for Indian millennials back in December 2021. The brand name was actually overhauled two years eventually, based upon consumer responses, it added.However, the brand name neglected to get any type of footing despite the improvements. Ayuga was actually an online simply brand.Other new-age companies in the ayurveda-focused charm and individual care space consist of Optimal XV Partners and Fireplace Ventures-backed Nathabit, Intuition Ventures-backed The Ayurveda Firm, as well as Vertex Ventures-backed Kapiva.Nathabit has supposedly intercrossed an annualised income cost of Rs 100 crore in FY24, while Kapiva disclosed Rs 114 crore in operating income in FY23.
Released On Aug 10, 2024 at 01:18 PM IST.
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