.Rep imageBeauty as well as private care firm Honasa Customer– the parent body of Mamaearth– is discontinuing its own ayurvedic beauty brand Ayuga.In an earnings presentation on Friday, Honasa Individual stated it could not develop a product-market fit as well as began sunsetting the company coming from June this year.Following the discontinuation of Ayuga, Honasa Buyer will definitely possess six brands in its collection– Mamaearth, its own most extensive brand name, The Derma Carbon Monoxide, Aqualogica, Dr Sheth’s, BBlunt, as well as Staze, under which the business offers colour cosmetics products.Honasa Customer disclosed a 19% year-on-year rise in operating profits for the April-June period to Rs 554 crore, while internet revenue rose 62% on year to Rs 40 crore.In the discussion, Honasa said Ayuga was actually released to present ayurvedic beauty items in modern formats for Indian millennials back in December 2021. The company was revamped 2 years later on, based on individual reviews, it added.However, the brand neglected to get any traction regardless of the adjustments. Ayuga was actually an online just brand.Other new-age labels in the ayurveda-focused beauty and private care room feature Top XV Allies as well as Fireplace Ventures-backed Nathabit, Sixth Sense Ventures-backed The Ayurveda Business, as well as Tip Ventures-backed Kapiva.Nathabit has supposedly intercrossed an annualised earnings cost of Rs one hundred crore in FY24, while Kapiva mentioned Rs 114 crore in operating income in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST. Sign up with the neighborhood of 2M+ sector specialists.Register for our bulletin to get latest knowledge & study. Download ETRetail App.Acquire Realtime updates.Save your favourite articles.
Scan to install App.