.Agent imageBeauty and personal treatment provider Honasa Customer-- the parent facility of Mamaearth-- is actually stopping its own ayurvedic beauty brand Ayuga.In an earnings presentation on Friday, Honasa Buyer claimed it could certainly not set up a product-market match as well as started sunsetting the label from June this year.Following the ending of Ayuga, Honasa Buyer will definitely possess six brand names in its collection-- Mamaearth, its own most extensive company, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the firm markets colour cosmetics products.Honasa Individual stated a 19% year-on-year increase in operating earnings for the April-June time frame to Rs 554 crore, while web earnings increased 62% on year to Rs 40 crore.In the presentation, Honasa stated Ayuga was actually introduced to introduce ayurvedic appeal products in modern-day styles for Indian millennials back in December 2021. The brand was spruced up two years later, based upon customer feedback, it added.However, the company neglected to get any sort of traction regardless of the changes. Ayuga was an online merely brand.Other new-age brand names in the ayurveda-focused elegance and individual treatment area include Optimal XV Partners and Fireside Ventures-backed Nathabit, Extrasensory Perception Ventures-backed The Ayurveda Company, and also Vertex Ventures-backed Kapiva.Nathabit has actually supposedly crossed an annualised income fee of Rs 100 crore in FY24, while Kapiva reported Rs 114 crore in operating income in FY23.
Released On Aug 10, 2024 at 01:18 PM IST.
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