.Agent imageBeauty as well as private treatment firm Honasa Customer-- the moms and dad entity of Mamaearth-- is actually stopping its own ayurvedic elegance brand name Ayuga.In an incomes discussion on Friday, Honasa Customer stated it might certainly not establish a product-market match as well as began sunsetting the brand from June this year.Following the ending of Ayuga, Honasa Individual are going to have six companies in its own collection-- Mamaearth, its own largest label, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, as well as Staze, under which the company sells colour cosmetics products.Honasa Consumer disclosed a 19% year-on-year increase in operating income for the April-June period to Rs 554 crore, while web earnings climbed 62% on year to Rs 40 crore.In the presentation, Honasa pointed out Ayuga was actually launched to introduce ayurvedic beauty items in modern-day styles for Indian millennials back in December 2021. The brand name was overhauled two years later on, based upon customer responses, it added.However, the brand neglected to get any type of grip regardless of the adjustments. Ayuga was actually an online just brand.Other new-age companies in the ayurveda-focused charm and private treatment area include Optimal XV Partners and Fireside Ventures-backed Nathabit, Clairvoyance Ventures-backed The Ayurveda Company, and Vertex Ventures-backed Kapiva.Nathabit has supposedly intercrossed an annualised earnings fee of Rs one hundred crore in FY24, while Kapiva stated Rs 114 crore in operating revenue in FY23.
Released On Aug 10, 2024 at 01:18 PM IST.
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