.Agent imageBeauty as well as personal care business Honasa Individual-- the parent company of Mamaearth-- is stopping its own ayurvedic charm label Ayuga.In a profits presentation on Friday, Honasa Consumer mentioned it might certainly not develop a product-market fit and began sunsetting the brand coming from June this year.Following the ending of Ayuga, Honasa Buyer will certainly have 6 labels in its own collection-- Mamaearth, its biggest brand name, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the firm offers colour cosmetics products.Honasa Consumer disclosed a 19% year-on-year boost in operating earnings for the April-June duration to Rs 554 crore, while net earnings rose 62% on year to Rs 40 crore.In the presentation, Honasa claimed Ayuga was actually released to present ayurvedic charm products in present day formats for Indian millennials back in December 2021. The company was actually spruced up pair of years later on, based on customer feedback, it added.However, the brand name stopped working to receive any kind of grip in spite of the improvements. Ayuga was actually an online only brand.Other new-age companies in the ayurveda-focused charm and individual treatment space consist of Peak XV Allies as well as Fireplace Ventures-backed Nathabit, Premonition Ventures-backed The Ayurveda Company, and Tip Ventures-backed Kapiva.Nathabit has supposedly crossed an annualised earnings fee of Rs 100 crore in FY24, while Kapiva mentioned Rs 114 crore in operating income in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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