.Rep imageBeauty as well as individual care provider Honasa Individual– the moms and dad facility of Mamaearth– is stopping its ayurvedic elegance brand name Ayuga.In a profits discussion on Friday, Honasa Customer stated it could possibly certainly not develop a product-market match as well as began sunsetting the company from June this year.Following the discontinuation of Ayuga, Honasa Buyer will certainly have 6 brand names in its own portfolio– Mamaearth, its own largest label, The Derma Co, Aqualogica, Dr Sheth’s, BBlunt, and also Staze, under which the business sells colour cosmetics products.Honasa Buyer disclosed a 19% year-on-year rise in operating earnings for the April-June time period to Rs 554 crore, while web earnings rose 62% on year to Rs 40 crore.In the discussion, Honasa stated Ayuga was actually launched to offer ayurvedic beauty items in present day styles for Indian millennials back in December 2021. The brand was actually spruced up pair of years later, based on buyer feedback, it added.However, the brand stopped working to get any traction even with the modifications. Ayuga was an online just brand.Other new-age brand names in the ayurveda-focused charm as well as individual treatment area include Peak XV Partners and also Fireplace Ventures-backed Nathabit, Intuitiveness Ventures-backed The Ayurveda Firm, and also Tip Ventures-backed Kapiva.Nathabit has actually supposedly intercrossed an annualised earnings fee of Rs 100 crore in FY24, while Kapiva stated Rs 114 crore in operating profits in FY23.
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