.Representative imageBeauty and private treatment business Honasa Individual-- the moms and dad facility of Mamaearth-- is actually discontinuing its ayurvedic appeal brand name Ayuga.In an earnings presentation on Friday, Honasa Buyer claimed it might not develop a product-market fit and began sunsetting the label coming from June this year.Following the discontinuation of Ayuga, Honasa Customer will certainly possess 6 labels in its portfolio-- Mamaearth, its biggest brand name, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the business offers colour cosmetics products.Honasa Individual stated a 19% year-on-year rise in operating profits for the April-June time frame to Rs 554 crore, while net income climbed 62% on year to Rs 40 crore.In the discussion, Honasa pointed out Ayuga was launched to offer ayurvedic appeal products in modern-day layouts for Indian millennials back in December 2021. The company was remodelled two years later, based upon buyer feedback, it added.However, the label stopped working to receive any type of grip even with the changes. Ayuga was actually an online just brand.Other new-age brand names in the ayurveda-focused elegance and private treatment space include Peak XV Partners as well as Fireplace Ventures-backed Nathabit, Foreknowledge Ventures-backed The Ayurveda Company, and Vertex Ventures-backed Kapiva.Nathabit has actually reportedly crossed an annualised earnings rate of Rs 100 crore in FY24, while Kapiva stated Rs 114 crore in operating revenue in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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