.Rep imageBeauty and private treatment business Honasa Buyer-- the parent facility of Mamaearth-- is actually ceasing its own ayurvedic charm label Ayuga.In an incomes presentation on Friday, Honasa Buyer claimed it can certainly not create a product-market fit and began sunsetting the brand name from June this year.Following the ending of Ayuga, Honasa Individual will definitely have six brands in its own portfolio-- Mamaearth, its own most extensive brand name, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the provider sells colour cosmetics products.Honasa Customer mentioned a 19% year-on-year boost in operating income for the April-June time period to Rs 554 crore, while web revenue increased 62% on year to Rs 40 crore.In the discussion, Honasa claimed Ayuga was actually introduced to introduce ayurvedic appeal products in modern formats for Indian millennials back in December 2021. The brand was revamped 2 years later on, based on buyer feedback, it added.However, the label failed to obtain any kind of footing regardless of the changes. Ayuga was an online just brand.Other new-age brands in the ayurveda-focused beauty and private care area consist of Optimal XV Allies and also Fireplace Ventures-backed Nathabit, Premonition Ventures-backed The Ayurveda Business, and Vertex Ventures-backed Kapiva.Nathabit has supposedly crossed an annualised profits fee of Rs 100 crore in FY24, while Kapiva disclosed Rs 114 crore in operating income in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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