.Representative imageBeauty as well as personal care provider Honasa Buyer– the moms and dad company of Mamaearth– is terminating its ayurvedic beauty label Ayuga.In a profits discussion on Friday, Honasa Consumer said it can certainly not create a product-market fit and also started sunsetting the brand from June this year.Following the ending of Ayuga, Honasa Individual will definitely possess six brands in its own collection– Mamaearth, its most extensive brand name, The Derma Co, Aqualogica, Dr Sheth’s, BBlunt, and also Staze, under which the business markets colour cosmetics products.Honasa Customer disclosed a 19% year-on-year rise in operating profits for the April-June time period to Rs 554 crore, while web revenue rose 62% on year to Rs 40 crore.In the presentation, Honasa mentioned Ayuga was actually released to offer ayurvedic appeal products in present day layouts for Indian millennials back in December 2021. The label was actually renewed 2 years later, based on individual comments, it added.However, the brand failed to receive any type of traction regardless of the changes. Ayuga was actually an online simply brand.Other new-age brand names in the ayurveda-focused charm and also individual care area include Top XV Allies and Fireside Ventures-backed Nathabit, Perception Ventures-backed The Ayurveda Firm, and also Tip Ventures-backed Kapiva.Nathabit has actually reportedly crossed an annualised profits fee of Rs 100 crore in FY24, while Kapiva reported Rs 114 crore in operating revenue in FY23.
Released On Aug 10, 2024 at 01:18 PM IST. Participate in the neighborhood of 2M+ field professionals.Sign up for our bulletin to receive most current knowledge & analysis. Download ETRetail Application.Acquire Realtime updates.Save your preferred write-ups.
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