.Representative imageBeauty and private treatment provider Honasa Buyer-- the moms and dad body of Mamaearth-- is ceasing its ayurvedic beauty brand name Ayuga.In an earnings discussion on Friday, Honasa Customer said it could not set up a product-market fit and started sunsetting the brand name coming from June this year.Following the ending of Ayuga, Honasa Buyer will certainly have 6 labels in its profile-- Mamaearth, its biggest label, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, as well as Staze, under which the provider markets colour cosmetics products.Honasa Buyer disclosed a 19% year-on-year boost in operating income for the April-June time frame to Rs 554 crore, while net profit climbed 62% on year to Rs 40 crore.In the presentation, Honasa stated Ayuga was actually launched to introduce ayurvedic beauty products in present day layouts for Indian millennials back in December 2021. The brand was renewed 2 years later, based upon individual responses, it added.However, the company stopped working to receive any type of footing regardless of the modifications. Ayuga was an online merely brand.Other new-age labels in the ayurveda-focused charm and individual care space consist of Height XV Allies and also Fireside Ventures-backed Nathabit, Intuition Ventures-backed The Ayurveda Provider, and Tip Ventures-backed Kapiva.Nathabit has supposedly intercrossed an annualised income cost of Rs 100 crore in FY24, while Kapiva reported Rs 114 crore in operating earnings in FY23.
Released On Aug 10, 2024 at 01:18 PM IST.
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