.Representative imageBeauty and also personal care firm Honasa Customer-- the parent company of Mamaearth-- is actually discontinuing its own ayurvedic charm brand name Ayuga.In an incomes discussion on Friday, Honasa Consumer mentioned it can certainly not create a product-market match and also began sunsetting the brand from June this year.Following the ending of Ayuga, Honasa Buyer will definitely possess 6 labels in its own portfolio-- Mamaearth, its own biggest brand, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the company 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 web earnings rose 62% on year to Rs 40 crore.In the presentation, Honasa stated Ayuga was introduced to present ayurvedic appeal products in modern layouts for Indian millennials back in December 2021. The label was actually renewed 2 years later, based upon individual feedback, it added.However, the label neglected to obtain any sort of traction in spite of the improvements. Ayuga was an online only brand.Other new-age companies in the ayurveda-focused charm and private treatment area feature Top XV Partners and Fireside Ventures-backed Nathabit, Extrasensory Perception Ventures-backed The Ayurveda Business, as well as Vertex Ventures-backed Kapiva.Nathabit has supposedly intercrossed an annualised earnings rate of Rs one hundred crore in FY24, while Kapiva reported Rs 114 crore in operating income in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
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