.Agent imageBeauty as well as private care company Honasa Buyer-- the parent body of Mamaearth-- is discontinuing its own ayurvedic charm brand name Ayuga.In an incomes discussion on Friday, Honasa Individual mentioned it can certainly not set up a product-market fit and also started sunsetting the brand name coming from June this year.Following the ending of Ayuga, Honasa Buyer will certainly have six brand names in its collection-- Mamaearth, its largest brand, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the company markets colour cosmetics products.Honasa Individual mentioned a 19% year-on-year increase in operating earnings for the April-June period to Rs 554 crore, while internet earnings rose 62% on year to Rs 40 crore.In the discussion, Honasa stated Ayuga was actually introduced to introduce ayurvedic charm products in contemporary formats for Indian millennials back in December 2021. The brand was actually remodelled 2 years later on, based on individual comments, it added.However, the brand name failed to receive any footing regardless of the improvements. Ayuga was an online merely brand.Other new-age brand names in the ayurveda-focused charm as well as personal care space include Peak XV Partners as well as Fireside Ventures-backed Nathabit, Extrasensory Perception Ventures-backed The Ayurveda Firm, and Vertex Ventures-backed Kapiva.Nathabit has actually supposedly intercrossed an annualised earnings cost of Rs one hundred crore in FY24, while Kapiva reported Rs 114 crore in operating revenue in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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