.Rep imageBeauty and individual care business Honasa Customer-- the moms and dad entity of Mamaearth-- is actually discontinuing its own ayurvedic elegance brand Ayuga.In an incomes discussion on Friday, Honasa Individual mentioned it could not set up a product-market match and started sunsetting the label coming from June this year.Following the ending of Ayuga, Honasa Consumer will definitely have 6 brands in its own profile-- Mamaearth, its own biggest brand name, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the provider sells colour cosmetics products.Honasa Customer disclosed a 19% year-on-year increase in operating income for the April-June period to Rs 554 crore, while internet profit increased 62% on year to Rs 40 crore.In the presentation, Honasa said Ayuga was launched to launch ayurvedic charm products in modern styles for Indian millennials back in December 2021. The label was actually revamped two years later, based upon customer responses, it added.However, the label neglected to get any sort of traction despite the changes. Ayuga was an online only brand.Other new-age companies in the ayurveda-focused appeal and private care room consist of Top XV Partners and also Fireplace Ventures-backed Nathabit, Perception Ventures-backed The Ayurveda Firm, and also Tip Ventures-backed Kapiva.Nathabit has supposedly intercrossed an annualised income price of Rs one hundred crore in FY24, while Kapiva disclosed Rs 114 crore in operating revenue in FY23.
Released On Aug 10, 2024 at 01:18 PM IST.
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