.Representative imageBeauty as well as private care provider Honasa Buyer-- the parent company of Mamaearth-- is actually discontinuing its ayurvedic charm brand Ayuga.In a profits discussion on Friday, Honasa Individual mentioned it could certainly not develop a product-market fit as well as started sunsetting the brand name coming from June this year.Following the discontinuation of Ayuga, Honasa Customer are going to have 6 brand names in its portfolio-- Mamaearth, its biggest brand name, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, as well as Staze, under which the business markets colour cosmetics products.Honasa Buyer stated a 19% year-on-year rise in operating profits for the April-June period to Rs 554 crore, while web earnings climbed 62% on year to Rs 40 crore.In the presentation, Honasa mentioned Ayuga was released to introduce ayurvedic beauty products in contemporary layouts for Indian millennials back in December 2021. The brand was overhauled pair of years later, based upon individual comments, it added.However, the brand name failed to acquire any kind of traction despite the improvements. Ayuga was an online simply brand.Other new-age brand names in the ayurveda-focused appeal and individual treatment room consist of Top XV Partners as well as Fireside Ventures-backed Nathabit, Premonition Ventures-backed The Ayurveda Company, as well as Vertex Ventures-backed Kapiva.Nathabit has actually reportedly crossed an annualised revenue cost of Rs one hundred crore in FY24, while Kapiva reported Rs 114 crore in operating income in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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