.Representative imageBeauty and individual care firm Honasa Individual-- the moms and dad company of Mamaearth-- is actually terminating its ayurvedic charm brand Ayuga.In an incomes discussion on Friday, Honasa Buyer said it could possibly certainly not establish a product-market match as well as began sunsetting the brand from June this year.Following the ending of Ayuga, Honasa Buyer will have six companies in its own portfolio-- Mamaearth, its own biggest brand, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the company offers colour cosmetics products.Honasa Consumer disclosed a 19% year-on-year boost in operating earnings for the April-June duration to Rs 554 crore, while internet revenue climbed 62% on year to Rs 40 crore.In the presentation, Honasa stated Ayuga was launched to introduce ayurvedic elegance products in modern-day formats for Indian millennials back in December 2021. The brand was renewed two years later on, based on customer comments, it added.However, the brand neglected to get any sort of traction in spite of the adjustments. Ayuga was an online only brand.Other new-age labels in the ayurveda-focused appeal as well as individual treatment room include Height XV Allies and also Fireplace Ventures-backed Nathabit, Premonition Ventures-backed The Ayurveda Business, and also Tip Ventures-backed Kapiva.Nathabit has actually supposedly crossed an annualised profits rate of Rs one hundred crore in FY24, while Kapiva stated Rs 114 crore in operating profits in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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