.Agent imageBeauty and also personal treatment business Honasa Individual-- the parent entity of Mamaearth-- is ceasing its ayurvedic beauty label Ayuga.In an incomes discussion on Friday, Honasa Individual mentioned it could not develop a product-market match as well as began sunsetting the brand coming from June this year.Following the discontinuation of Ayuga, Honasa Buyer will possess six brands in its own portfolio-- Mamaearth, its largest brand, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the business offers colour cosmetics products.Honasa Individual disclosed a 19% year-on-year rise in operating revenue for the April-June period to Rs 554 crore, while internet profit rose 62% on year to Rs 40 crore.In the presentation, Honasa mentioned Ayuga was actually introduced to present ayurvedic beauty items in present day layouts for Indian millennials back in December 2021. The label was actually renewed two years later, based upon buyer feedback, it added.However, the company fell short to get any traction in spite of the improvements. Ayuga was an online just brand.Other new-age brands in the ayurveda-focused charm and personal treatment area include Peak XV Allies and also Fireside Ventures-backed Nathabit, Second Sight Ventures-backed The Ayurveda Company, as well as Vertex Ventures-backed Kapiva.Nathabit has reportedly crossed an annualised earnings price of Rs 100 crore in FY24, while Kapiva mentioned Rs 114 crore in operating profits in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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