.Agent imageBeauty and private care provider Honasa Individual-- the parent body of Mamaearth-- is ceasing its ayurvedic charm company Ayuga.In a revenues presentation on Friday, Honasa Customer stated it can not create a product-market match as well as began sunsetting the brand coming from June this year.Following the ending of Ayuga, Honasa Buyer are going to possess six brands in its own collection-- Mamaearth, its largest brand, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, as well as Staze, under which the business sells colour cosmetics products.Honasa Individual stated a 19% year-on-year rise in operating income for the April-June time period to Rs 554 crore, while web profit rose 62% on year to Rs 40 crore.In the presentation, Honasa said Ayuga was actually introduced to introduce ayurvedic elegance items in present day formats for Indian millennials back in December 2021. The brand name was revamped two years later, based upon individual feedback, it added.However, the brand stopped working to obtain any type of footing regardless of the modifications. Ayuga was an online only brand.Other new-age companies in the ayurveda-focused elegance as well as personal care room include Peak XV Partners and Fireside Ventures-backed Nathabit, Premonition Ventures-backed The Ayurveda Firm, as well as Vertex Ventures-backed Kapiva.Nathabit has apparently intercrossed an annualised earnings 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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