.Representative imageBeauty as well as individual care firm Honasa Buyer-- the parent company of Mamaearth-- is discontinuing its ayurvedic appeal label Ayuga.In a profits discussion on Friday, Honasa Customer stated it can certainly not set up a product-market match and started sunsetting the brand name coming from June this year.Following the ending of Ayuga, Honasa Buyer will certainly possess 6 brands in its own collection-- Mamaearth, its biggest brand, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, as well as Staze, under which the company sells colour cosmetics products.Honasa Buyer stated a 19% year-on-year increase in operating revenue for the April-June time frame to Rs 554 crore, while net earnings increased 62% on year to Rs 40 crore.In the presentation, Honasa mentioned Ayuga was actually released to present ayurvedic charm products in present day layouts for Indian millennials back in December 2021. The label was actually spruced up pair of years eventually, based upon consumer responses, it added.However, the company fell short to obtain any kind of grip in spite of the adjustments. Ayuga was an online just brand.Other new-age labels in the ayurveda-focused elegance and also private treatment space feature Optimal XV Allies as well as Fireplace Ventures-backed Nathabit, Sixth Sense Ventures-backed The Ayurveda Company, and Tip Ventures-backed Kapiva.Nathabit has supposedly intercrossed an annualised profits price 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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