.Rep imageBeauty and personal care firm Honasa Consumer-- the moms and dad body of Mamaearth-- is stopping its ayurvedic beauty label Ayuga.In a profits discussion on Friday, Honasa Customer stated it might not establish a product-market match and began sunsetting the brand coming from June this year.Following the ending of Ayuga, Honasa Consumer will definitely have six brand names in its own collection-- Mamaearth, its own most extensive company, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the firm offers colour cosmetics products.Honasa Buyer stated a 19% year-on-year increase in operating earnings for the April-June time period to Rs 554 crore, while net income climbed 62% on year to Rs 40 crore.In the presentation, Honasa mentioned Ayuga was actually released to present ayurvedic charm items in contemporary formats for Indian millennials back in December 2021. The label was spruced up 2 years eventually, based upon buyer comments, it added.However, the brand name stopped working to acquire any grip regardless of the modifications. Ayuga was an online just brand.Other new-age brand names in the ayurveda-focused charm and also individual treatment area feature Peak XV Allies as well as Fireside Ventures-backed Nathabit, Foreknowledge Ventures-backed The Ayurveda Business, and Tip Ventures-backed Kapiva.Nathabit has apparently intercrossed an annualised income cost of Rs one hundred crore in FY24, while Kapiva stated Rs 114 crore in operating profits in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
Join the neighborhood of 2M+ sector professionals.Subscribe to our email list to receive latest knowledge & review.
Download And Install ETRetail App.Get Realtime updates.Conserve your much-loved articles.
Check to download Application.