.Rep imageBeauty and private care firm Honasa Buyer-- the parent entity of Mamaearth-- is actually discontinuing its ayurvedic appeal label Ayuga.In a revenues discussion on Friday, Honasa Consumer mentioned it might certainly not set up a product-market match as well as began sunsetting the label from June this year.Following the discontinuation of Ayuga, Honasa Customer will have 6 labels in its own collection-- Mamaearth, its own largest brand name, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the firm sells colour cosmetics products.Honasa Buyer reported a 19% year-on-year increase in operating profits for the April-June period to Rs 554 crore, while internet profit rose 62% on year to Rs 40 crore.In the discussion, Honasa claimed Ayuga was actually released to introduce ayurvedic elegance products in modern formats for Indian millennials back in December 2021. The company was actually remodelled pair of years later, based upon customer feedback, it added.However, the brand fell short to acquire any kind of traction regardless of the improvements. Ayuga was actually an online just brand.Other new-age labels in the ayurveda-focused charm and also private care space feature Optimal XV Partners as well as Fireplace Ventures-backed Nathabit, Premonition Ventures-backed The Ayurveda Business, as well as Tip Ventures-backed Kapiva.Nathabit has actually supposedly intercrossed an annualised earnings price of Rs one hundred crore in FY24, while Kapiva stated Rs 114 crore in operating revenue in FY23.
Released On Aug 10, 2024 at 01:18 PM IST.
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