.Agent imageBeauty as well as individual treatment provider Honasa Customer-- the moms and dad facility of Mamaearth-- is actually terminating its ayurvedic charm brand Ayuga.In an earnings presentation on Friday, Honasa Individual mentioned it can not create a product-market fit and began sunsetting the label from June this year.Following the discontinuation of Ayuga, Honasa Consumer will have six labels in its profile-- Mamaearth, its own most extensive company, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the company offers colour cosmetics products.Honasa Customer mentioned a 19% year-on-year boost in operating profits for the April-June time frame to Rs 554 crore, while net revenue increased 62% on year to Rs 40 crore.In the presentation, Honasa stated Ayuga was actually launched to launch ayurvedic charm items in present day styles for Indian millennials back in December 2021. The label was overhauled two years later, based upon individual responses, it added.However, the brand name stopped working to receive any sort of footing despite the adjustments. Ayuga was an online merely brand.Other new-age brands in the ayurveda-focused beauty as well as personal treatment space feature Top XV Allies as well as Fireplace Ventures-backed Nathabit, Intuition Ventures-backed The Ayurveda Business, and Tip Ventures-backed Kapiva.Nathabit has actually reportedly intercrossed an annualised income fee of Rs 100 crore in FY24, while Kapiva disclosed Rs 114 crore in operating earnings in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
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