.Agent imageBeauty and individual care firm Honasa Individual-- the parent company of Mamaearth-- is discontinuing its own ayurvedic appeal label Ayuga.In an earnings presentation on Friday, Honasa Consumer said it can certainly not set up a product-market match and also started sunsetting the brand coming from June this year.Following the discontinuation of Ayuga, Honasa Customer will certainly possess 6 companies in its own profile-- Mamaearth, its largest brand name, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the company sells colour cosmetics products.Honasa Buyer stated a 19% year-on-year rise in operating income for the April-June duration to Rs 554 crore, while web profit climbed 62% on year to Rs 40 crore.In the discussion, Honasa said Ayuga was actually introduced to present ayurvedic charm items in modern-day styles for Indian millennials back in December 2021. The company was revamped two years eventually, based on customer reviews, it added.However, the company neglected to get any kind of footing despite the changes. Ayuga was an online just brand.Other new-age labels in the ayurveda-focused elegance and also individual care space include Top XV Allies as well as Fireside Ventures-backed Nathabit, Foreknowledge Ventures-backed The Ayurveda Provider, and also Vertex Ventures-backed Kapiva.Nathabit has apparently intercrossed an annualised income fee of Rs one hundred crore in FY24, while Kapiva mentioned Rs 114 crore in operating earnings in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
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