.Representative imageBeauty as well as personal care provider Honasa Customer– the parent company of Mamaearth– is discontinuing its ayurvedic elegance brand Ayuga.In an earnings discussion on Friday, Honasa Customer claimed it might certainly not set up a product-market match and also started sunsetting the brand from June this year.Following the ending of Ayuga, Honasa Consumer will possess 6 brands in its portfolio– Mamaearth, its most extensive label, The Derma Co, Aqualogica, Dr Sheth’s, BBlunt, as well as Staze, under which the provider offers colour cosmetics products.Honasa Individual stated a 19% year-on-year rise in operating earnings for the April-June time period to Rs 554 crore, while web revenue rose 62% on year to Rs 40 crore.In the discussion, Honasa mentioned Ayuga was released to present ayurvedic charm items in contemporary formats for Indian millennials back in December 2021. The label was remodelled pair of years eventually, based upon consumer responses, it added.However, the label stopped working to obtain any sort of grip even with the changes. Ayuga was an online only brand.Other new-age labels in the ayurveda-focused beauty as well as private care area include Optimal XV Partners and also Fireplace Ventures-backed Nathabit, Instinct Ventures-backed The Ayurveda Provider, and also Vertex Ventures-backed Kapiva.Nathabit has reportedly crossed an annualised profits fee of Rs 100 crore in FY24, while Kapiva disclosed Rs 114 crore in operating income in FY23.
Released On Aug 10, 2024 at 01:18 PM IST. Participate in the area of 2M+ field specialists.Register for our bulletin to acquire most recent insights & study. Download And Install ETRetail Application.Obtain Realtime updates.Spare your preferred posts.
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