.Representative imageBeauty and individual care provider Honasa Individual-- the moms and dad body of Mamaearth-- is discontinuing its own ayurvedic elegance brand Ayuga.In a revenues presentation on Friday, Honasa Buyer stated it might not establish a product-market match as well as started sunsetting the company coming from June this year.Following the discontinuation of Ayuga, Honasa Individual are going to possess 6 brand names in its portfolio-- Mamaearth, its most extensive label, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the provider markets colour cosmetics products.Honasa Individual mentioned a 19% year-on-year boost in operating income for the April-June period to Rs 554 crore, while internet income climbed 62% on year to Rs 40 crore.In the presentation, Honasa stated Ayuga was actually launched to present ayurvedic charm items in modern-day styles for Indian millennials back in December 2021. The brand was overhauled pair of years later on, based upon consumer comments, it added.However, the brand stopped working to obtain any sort of grip even with the changes. Ayuga was an online just brand.Other new-age brands in the ayurveda-focused appeal as well as individual care area feature Optimal XV Partners and also Fireplace Ventures-backed Nathabit, Perception Ventures-backed The Ayurveda Business, as well as Vertex Ventures-backed Kapiva.Nathabit has actually supposedly crossed an annualised income rate of Rs one hundred crore in FY24, while Kapiva reported Rs 114 crore in operating earnings in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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