.Rep imageBeauty and also personal care company Honasa Buyer-- the parent company of Mamaearth-- is terminating its own ayurvedic beauty brand Ayuga.In a profits discussion on Friday, Honasa Consumer said it might certainly not develop a product-market fit and started sunsetting the label coming from June this year.Following the ending of Ayuga, Honasa Individual are going to have six brand names in its profile-- Mamaearth, its biggest company, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the company sells colour cosmetics products.Honasa Individual stated a 19% year-on-year increase in operating profits for the April-June time frame to Rs 554 crore, while internet earnings climbed 62% on year to Rs 40 crore.In the discussion, Honasa pointed out Ayuga was actually released to launch ayurvedic beauty items in contemporary styles for Indian millennials back in December 2021. The brand was overhauled 2 years later, based upon individual reviews, it added.However, the brand failed to obtain any kind of footing even with the changes. Ayuga was actually an online just brand.Other new-age brands in the ayurveda-focused charm as well as personal treatment room feature Height XV Allies and Fireside Ventures-backed Nathabit, Premonition Ventures-backed The Ayurveda Business, and Vertex Ventures-backed Kapiva.Nathabit has actually reportedly crossed an annualised income fee of Rs 100 crore in FY24, while Kapiva mentioned Rs 114 crore in operating revenue in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
Sign up with the community of 2M+ market specialists.Register for our bulletin to receive most current ideas & analysis.
Install ETRetail App.Acquire Realtime updates.Save your favourite articles.
Scan to download and install Application.