.Representative imageBeauty and personal care company Honasa Consumer– the parent body of Mamaearth– is actually discontinuing its own ayurvedic elegance brand Ayuga.In an earnings presentation on Friday, Honasa Buyer said it could certainly not set up a product-market fit and started sunsetting the brand from June this year.Following the discontinuation of Ayuga, Honasa Individual are going to have six labels in its own portfolio– Mamaearth, its most extensive brand name, The Derma Co, Aqualogica, Dr Sheth’s, BBlunt, and also Staze, under which the company markets colour cosmetics products.Honasa Individual reported a 19% year-on-year boost in operating income for the April-June time period to Rs 554 crore, while internet revenue climbed 62% on year to Rs 40 crore.In the discussion, Honasa claimed Ayuga was introduced to offer ayurvedic beauty items in present day styles for Indian millennials back in December 2021. The company was actually renewed two years later, based on consumer feedback, it added.However, the label stopped working to acquire any traction even with the improvements. Ayuga was actually an online simply brand.Other new-age brand names in the ayurveda-focused elegance and private treatment space consist of Height XV Allies and Fireplace Ventures-backed Nathabit, Sixth Sense Ventures-backed The Ayurveda Provider, and also Tip Ventures-backed Kapiva.Nathabit has actually supposedly crossed an annualised earnings rate of Rs 100 crore in FY24, while Kapiva mentioned Rs 114 crore in operating profits in FY23.
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