.Rep imageBeauty and individual care company Honasa Buyer-- the parent entity of Mamaearth-- is discontinuing its own ayurvedic elegance brand name Ayuga.In a revenues discussion on Friday, Honasa Individual claimed it could not establish a product-market match and also began sunsetting the label from June this year.Following the ending of Ayuga, Honasa Individual will definitely have six companies in its profile-- Mamaearth, its biggest company, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the business offers colour cosmetics products.Honasa Individual stated a 19% year-on-year rise in operating profits for the April-June time period to Rs 554 crore, while internet revenue increased 62% on year to Rs 40 crore.In the presentation, Honasa pointed out Ayuga was introduced to introduce ayurvedic elegance items in present day formats for Indian millennials back in December 2021. The label was overhauled 2 years later, based upon consumer reviews, it added.However, the brand neglected to acquire any sort of footing despite the changes. Ayuga was actually an online only brand.Other new-age companies in the ayurveda-focused elegance as well as private care space feature Top XV Partners and Fireplace Ventures-backed Nathabit, Second Sight Ventures-backed The Ayurveda Provider, as well as Vertex Ventures-backed Kapiva.Nathabit has apparently intercrossed an annualised profits cost of Rs one hundred crore in FY24, while Kapiva mentioned Rs 114 crore in operating profits in FY23.
Released On Aug 10, 2024 at 01:18 PM IST.
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