.Representative imageBeauty and personal treatment business Honasa Buyer-- the moms and dad body of Mamaearth-- is ceasing its ayurvedic elegance brand Ayuga.In a profits discussion on Friday, Honasa Individual claimed it might not establish a product-market fit as well as began sunsetting the company from June this year.Following the ending of Ayuga, Honasa Customer will have six companies in its own profile-- Mamaearth, its biggest label, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, as well as Staze, under which the business sells colour cosmetics products.Honasa Individual reported a 19% year-on-year rise in operating income for the April-June duration to Rs 554 crore, while net earnings rose 62% on year to Rs 40 crore.In the presentation, Honasa stated Ayuga was released to present ayurvedic elegance items in contemporary formats for Indian millennials back in December 2021. The brand was spruced up pair of years later, based upon customer comments, it added.However, the brand failed to receive any sort of footing even with the improvements. Ayuga was actually an online merely brand.Other new-age brands in the ayurveda-focused elegance as well as personal care space consist of Peak XV Allies as well as Fireside Ventures-backed Nathabit, Extrasensory Perception Ventures-backed The Ayurveda Company, and Vertex Ventures-backed Kapiva.Nathabit has actually reportedly crossed an annualised revenue fee of Rs one hundred crore in FY24, while Kapiva stated Rs 114 crore in operating revenue in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
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