.Agent imageBeauty and private treatment firm Honasa Individual-- the parent facility of Mamaearth-- is stopping its own ayurvedic appeal label Ayuga.In a revenues discussion on Friday, Honasa Customer mentioned it could certainly not establish a product-market fit and started sunsetting the brand coming from June this year.Following the discontinuation of Ayuga, Honasa Customer will have 6 brands in its portfolio-- Mamaearth, its largest brand, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the business sells colour cosmetics products.Honasa Consumer stated a 19% year-on-year rise in operating earnings for the April-June period to Rs 554 crore, while net profit increased 62% on year to Rs 40 crore.In the presentation, Honasa pointed out Ayuga was actually released to launch ayurvedic elegance products in present day layouts for Indian millennials back in December 2021. The brand name was remodelled two years eventually, based upon customer comments, it added.However, the brand stopped working to get any type of grip even with the adjustments. Ayuga was an online only brand.Other new-age labels in the ayurveda-focused appeal and personal treatment area include Height XV Allies and also Fireplace Ventures-backed Nathabit, Sixth Sense Ventures-backed The Ayurveda Company, and also Tip Ventures-backed Kapiva.Nathabit has reportedly crossed an annualised profits price of Rs one hundred crore in FY24, while Kapiva reported Rs 114 crore in operating profits in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
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