.Representative imageBeauty and also personal care provider Honasa Consumer-- the parent entity of Mamaearth-- is actually terminating its ayurvedic appeal brand Ayuga.In an incomes presentation on Friday, Honasa Consumer stated it could possibly certainly not develop a product-market fit and also began sunsetting the label coming from June this year.Following the discontinuation of Ayuga, Honasa Buyer will possess 6 labels in its own collection-- Mamaearth, its own biggest label, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the firm sells colour cosmetics products.Honasa Individual mentioned a 19% year-on-year increase in operating profits for the April-June period to Rs 554 crore, while net income increased 62% on year to Rs 40 crore.In the discussion, Honasa mentioned Ayuga was launched to present ayurvedic elegance items in modern styles for Indian millennials back in December 2021. The brand was spruced up 2 years eventually, based on consumer responses, it added.However, the company stopped working to get any traction even with the modifications. Ayuga was actually an online only brand.Other new-age brand names in the ayurveda-focused appeal as well as private care area include Height XV Partners and Fireplace Ventures-backed Nathabit, Second Sight Ventures-backed The Ayurveda Company, as well as Tip Ventures-backed Kapiva.Nathabit has supposedly intercrossed an annualised revenue cost of Rs 100 crore in FY24, while Kapiva mentioned Rs 114 crore in operating income in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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