.Representative imageBeauty and also individual treatment firm Honasa Buyer-- the parent body of Mamaearth-- is actually stopping its own ayurvedic elegance brand Ayuga.In an incomes presentation on Friday, Honasa Customer mentioned it could not develop a product-market match and started sunsetting the brand name from June this year.Following the ending of Ayuga, Honasa Buyer will possess 6 labels in its collection-- Mamaearth, its most extensive label, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the firm markets colour cosmetics products.Honasa Customer stated a 19% year-on-year boost in operating income for the April-June time frame to Rs 554 crore, while internet income climbed 62% on year to Rs 40 crore.In the presentation, Honasa said Ayuga was released to launch ayurvedic appeal items in present day styles for Indian millennials back in December 2021. The label was renewed pair of years later on, based on buyer feedback, it added.However, the brand neglected to receive any type of traction even with the adjustments. Ayuga was an online merely brand.Other new-age companies in the ayurveda-focused charm and individual treatment space consist of Height XV Partners and Fireside Ventures-backed Nathabit, Extrasensory Perception Ventures-backed The Ayurveda Business, and also Vertex Ventures-backed Kapiva.Nathabit has actually apparently crossed an annualised earnings fee of Rs one hundred crore in FY24, while Kapiva mentioned Rs 114 crore in operating income in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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