.Rep imageBeauty and also individual care provider Honasa Buyer-- the parent company of Mamaearth-- is actually stopping its own ayurvedic appeal label Ayuga.In an earnings discussion on Friday, Honasa Consumer stated it could not develop a product-market match as well as started sunsetting the brand coming from June this year.Following the ending of Ayuga, Honasa Individual are going to have six labels in its own portfolio-- Mamaearth, its own biggest label, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the business offers colour cosmetics products.Honasa Buyer reported a 19% year-on-year rise in operating profits for the April-June duration to Rs 554 crore, while net income rose 62% on year to Rs 40 crore.In the presentation, Honasa mentioned Ayuga was actually released to launch ayurvedic elegance products in modern styles for Indian millennials back in December 2021. The brand was renewed 2 years eventually, based on consumer reviews, it added.However, the label failed to obtain any footing even with the modifications. Ayuga was an online simply brand.Other new-age labels in the ayurveda-focused charm and personal care space feature Top XV Partners and Fireplace Ventures-backed Nathabit, Clairvoyance Ventures-backed The Ayurveda Provider, and Vertex Ventures-backed Kapiva.Nathabit has supposedly crossed an annualised income price of Rs one hundred crore in FY24, while Kapiva stated Rs 114 crore in operating profits in FY23.
Released On Aug 10, 2024 at 01:18 PM IST.
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