.Agent imageBeauty as well as private care company Honasa Individual– the moms and dad company of Mamaearth– is terminating its own ayurvedic appeal label Ayuga.In a profits discussion on Friday, Honasa Buyer stated it might not set up a product-market fit and started sunsetting the company from June this year.Following the discontinuation of Ayuga, Honasa Customer will definitely possess six companies in its profile– Mamaearth, its own largest brand, The Derma Co, Aqualogica, Dr Sheth’s, BBlunt, as well as Staze, under which the provider markets colour cosmetics products.Honasa Consumer mentioned a 19% year-on-year rise in operating profits for the April-June duration to Rs 554 crore, while net income rose 62% on year to Rs 40 crore.In the discussion, Honasa pointed out Ayuga was actually introduced to offer ayurvedic elegance items in modern layouts for Indian millennials back in December 2021. The company was spruced up two years eventually, based upon customer comments, it added.However, the brand neglected to acquire any sort of traction despite the adjustments. Ayuga was an online only brand.Other new-age brand names in the ayurveda-focused charm and also personal care room include Optimal XV Allies as well as Fireside Ventures-backed Nathabit, Foreknowledge Ventures-backed The Ayurveda Company, and Tip Ventures-backed Kapiva.Nathabit has actually supposedly crossed an annualised earnings rate of Rs 100 crore in FY24, while Kapiva reported Rs 114 crore in operating earnings in FY23.
Published On Aug 10, 2024 at 01:18 PM IST. Participate in the area of 2M+ industry professionals.Subscribe to our e-newsletter to acquire most up-to-date knowledge & review. Download ETRetail App.Receive Realtime updates.Conserve your preferred articles.
Scan to download Application.