.Representative imageBeauty and also personal care company Honasa Buyer-- the moms and dad entity of Mamaearth-- is actually stopping its own ayurvedic beauty label Ayuga.In a revenues presentation on Friday, Honasa Individual said it can certainly not set up a product-market match as well as started sunsetting the company from June this year.Following the ending of Ayuga, Honasa Customer are going to have 6 labels in its own profile-- Mamaearth, its largest brand name, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the firm markets colour cosmetics products.Honasa Consumer reported a 19% year-on-year boost in operating income for the April-June time frame to Rs 554 crore, while net profit climbed 62% on year to Rs 40 crore.In the discussion, Honasa said Ayuga was actually released to offer ayurvedic beauty products in contemporary styles for Indian millennials back in December 2021. The brand was overhauled two years later on, based on individual feedback, it added.However, the label stopped working to receive any kind of footing in spite of the improvements. Ayuga was actually an online simply brand.Other new-age brand names in the ayurveda-focused beauty as well as individual care space include Peak XV Allies and Fireplace Ventures-backed Nathabit, Premonition Ventures-backed The Ayurveda Firm, and Tip Ventures-backed Kapiva.Nathabit has supposedly crossed an annualised revenue cost of Rs 100 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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