.Representative imageBeauty and also personal treatment company Honasa Customer-- the parent facility of Mamaearth-- is actually discontinuing its own ayurvedic beauty label Ayuga.In a profits presentation on Friday, Honasa Buyer stated it can certainly not create a product-market fit and started sunsetting the label from June this year.Following the ending of Ayuga, Honasa Consumer will have six brands in its collection-- Mamaearth, its largest label, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the firm sells colour cosmetics products.Honasa Consumer stated a 19% year-on-year increase in operating earnings for the April-June time period to Rs 554 crore, while web income increased 62% on year to Rs 40 crore.In the presentation, Honasa mentioned Ayuga was released to present ayurvedic beauty items in contemporary styles for Indian millennials back in December 2021. The brand was remodelled pair of years later on, based on consumer reviews, it added.However, the brand name failed to get any traction in spite of the improvements. Ayuga was actually an online only brand.Other new-age labels in the ayurveda-focused appeal and also personal care area feature Top XV Allies as well as Fireplace Ventures-backed Nathabit, Instinct Ventures-backed The Ayurveda Firm, as well as Tip Ventures-backed Kapiva.Nathabit has supposedly intercrossed an annualised earnings price of Rs 100 crore in FY24, while Kapiva stated Rs 114 crore in operating earnings in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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