.Rep imageBeauty and individual treatment business Honasa Individual-- the moms and dad company of Mamaearth-- is actually discontinuing its own ayurvedic charm brand name Ayuga.In an incomes discussion on Friday, Honasa Individual claimed it can not establish a product-market match and also began sunsetting the brand coming from June this year.Following the ending of Ayuga, Honasa Buyer will possess 6 companies in its portfolio-- Mamaearth, its most extensive label, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the firm sells colour cosmetics products.Honasa Individual reported a 19% year-on-year rise in operating income for the April-June time period to Rs 554 crore, while net profit climbed 62% on year to Rs 40 crore.In the presentation, Honasa pointed out Ayuga was released to launch ayurvedic appeal items in present day layouts for Indian millennials back in December 2021. The brand was actually spruced up two years later on, based upon buyer feedback, it added.However, the brand name neglected to receive any kind of traction regardless of the modifications. Ayuga was actually an online simply brand.Other new-age brands in the ayurveda-focused appeal and also personal treatment area include Height XV Partners as well as Fireside Ventures-backed Nathabit, Intuitiveness Ventures-backed The Ayurveda Company, and Tip Ventures-backed Kapiva.Nathabit has actually apparently crossed an annualised revenue cost of Rs one hundred crore in FY24, while Kapiva disclosed Rs 114 crore in operating revenue in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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