.Rep imageBeauty as well as personal care firm Honasa Consumer-- the moms and dad body of Mamaearth-- is stopping its own ayurvedic beauty label Ayuga.In a revenues discussion on Friday, Honasa Buyer stated it can not set up a product-market match and began sunsetting the brand name coming from June this year.Following the discontinuation of Ayuga, Honasa Buyer will definitely possess six brands in its collection-- Mamaearth, its most extensive brand, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the firm offers colour cosmetics products.Honasa Consumer mentioned a 19% year-on-year increase in operating profits for the April-June duration to Rs 554 crore, while web earnings increased 62% on year to Rs 40 crore.In the presentation, Honasa claimed Ayuga was actually launched to offer ayurvedic beauty items in modern formats for Indian millennials back in December 2021. The brand name was remodelled two years later, based on customer responses, it added.However, the brand failed to get any kind of grip in spite of the changes. Ayuga was actually an online only brand.Other new-age brand names in the ayurveda-focused elegance and also personal treatment space consist of Optimal XV Allies and Fireside Ventures-backed Nathabit, Intuitiveness Ventures-backed The Ayurveda Business, as well as Vertex Ventures-backed Kapiva.Nathabit has supposedly crossed an annualised income price of Rs 100 crore in FY24, while Kapiva mentioned Rs 114 crore in operating income in FY23.
Released On Aug 10, 2024 at 01:18 PM IST.
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