.Agent imageBeauty and individual treatment business Honasa Individual-- the moms and dad body of Mamaearth-- is stopping its own ayurvedic charm brand name Ayuga.In a profits discussion on Friday, Honasa Individual stated it could not create a product-market match and also started sunsetting the label from June this year.Following the ending of Ayuga, Honasa Individual will certainly have six companies in its collection-- Mamaearth, its most extensive brand name, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the provider 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 web earnings increased 62% on year to Rs 40 crore.In the presentation, Honasa claimed Ayuga was launched to launch ayurvedic beauty products in contemporary layouts for Indian millennials back in December 2021. The label was spruced up 2 years eventually, based on buyer reviews, it added.However, the company stopped working to receive any type of footing even with the changes. Ayuga was an online only brand.Other new-age labels in the ayurveda-focused elegance as well as private care area feature Peak XV Partners and Fireplace Ventures-backed Nathabit, Second Sight Ventures-backed The Ayurveda Firm, and Vertex Ventures-backed Kapiva.Nathabit has reportedly intercrossed an annualised revenue rate of Rs 100 crore in FY24, while Kapiva disclosed Rs 114 crore in operating income in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
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