.Rep imageBeauty as well as private care business Honasa Individual-- the moms and dad facility of Mamaearth-- is stopping its ayurvedic beauty label Ayuga.In an earnings discussion on Friday, Honasa Customer mentioned it could certainly not create a product-market fit as well as began sunsetting the label from June this year.Following the ending of Ayuga, Honasa Consumer are going to possess six labels in its collection-- Mamaearth, its biggest label, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, as well as Staze, under which the company sells colour cosmetics products.Honasa Customer disclosed a 19% year-on-year increase in operating earnings for the April-June period to Rs 554 crore, while internet income rose 62% on year to Rs 40 crore.In the discussion, Honasa pointed out Ayuga was actually introduced to present ayurvedic appeal products in modern layouts for Indian millennials back in December 2021. The company was actually overhauled 2 years later on, based upon individual reviews, it added.However, the brand failed to obtain any type of footing despite the modifications. Ayuga was actually an online only brand.Other new-age brands in the ayurveda-focused beauty and also individual care space feature Optimal XV Partners as well as Fireside Ventures-backed Nathabit, Sixth Sense Ventures-backed The Ayurveda Business, and also Tip Ventures-backed Kapiva.Nathabit has supposedly intercrossed an annualised income fee of Rs 100 crore in FY24, while Kapiva stated Rs 114 crore in operating profits in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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