.Representative imageBeauty and personal treatment provider Honasa Customer-- the parent body of Mamaearth-- is actually terminating its own ayurvedic charm company Ayuga.In a profits discussion on Friday, Honasa Consumer said it could possibly certainly not create a product-market fit and started sunsetting the brand name coming from June this year.Following the ending of Ayuga, Honasa Consumer will definitely have six brand names in its profile-- Mamaearth, its own largest brand name, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, as well as Staze, under which the company sells colour cosmetics products.Honasa Buyer disclosed a 19% year-on-year increase in operating profits for the April-June duration to Rs 554 crore, while web earnings rose 62% on year to Rs 40 crore.In the discussion, Honasa pointed out Ayuga was actually launched to present ayurvedic beauty products in modern-day styles for Indian millennials back in December 2021. The label was remodelled pair of years later on, based upon individual feedback, it added.However, the company fell short to receive any kind of traction even with the modifications. Ayuga was actually an online just brand.Other new-age companies in the ayurveda-focused charm and also personal treatment space consist of Height XV Partners and Fireside Ventures-backed Nathabit, Intuitiveness Ventures-backed The Ayurveda Firm, and also Vertex Ventures-backed Kapiva.Nathabit has apparently intercrossed an annualised earnings cost of Rs one hundred crore in FY24, while Kapiva reported Rs 114 crore in operating profits in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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