.Rep imageBeauty and also individual treatment company Honasa Individual-- the moms and dad company of Mamaearth-- is actually discontinuing its own ayurvedic charm brand name Ayuga.In a revenues presentation on Friday, Honasa Individual mentioned it can certainly not create a product-market match as well as started sunsetting the brand from June this year.Following the discontinuation of Ayuga, Honasa Consumer will definitely possess 6 brand names in its own collection-- Mamaearth, its most extensive label, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the firm sells colour cosmetics products.Honasa Buyer stated a 19% year-on-year increase in operating profits for the April-June period to Rs 554 crore, while net revenue climbed 62% on year to Rs 40 crore.In the discussion, Honasa pointed out Ayuga was actually introduced to introduce ayurvedic elegance items in modern formats for Indian millennials back in December 2021. The brand was overhauled 2 years eventually, based upon consumer responses, it added.However, the brand name fell short to receive any kind of grip despite the adjustments. Ayuga was actually an online merely brand.Other new-age companies in the ayurveda-focused beauty and personal treatment room feature Top XV Allies as well as Fireside Ventures-backed Nathabit, Extrasensory Perception Ventures-backed The Ayurveda Firm, as well as Vertex Ventures-backed Kapiva.Nathabit has actually reportedly intercrossed an annualised profits rate 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.
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