.Representative imageBeauty as well as individual treatment firm Honasa Customer-- the moms and dad body of Mamaearth-- is discontinuing its own ayurvedic charm brand name Ayuga.In an incomes presentation on Friday, Honasa Individual said it can not set up a product-market match as well as started sunsetting the brand coming from June this year.Following the discontinuation of Ayuga, Honasa Customer will definitely have 6 brands in its portfolio-- Mamaearth, its biggest label, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the firm sells colour cosmetics products.Honasa Customer stated a 19% year-on-year increase in operating earnings for the April-June time frame to Rs 554 crore, while net earnings rose 62% on year to Rs 40 crore.In the discussion, Honasa claimed Ayuga was introduced to launch ayurvedic beauty items in modern-day layouts for Indian millennials back in December 2021. The company was actually overhauled 2 years later, based on consumer responses, it added.However, the brand failed to acquire any sort of traction in spite of the changes. Ayuga was actually an online only brand.Other new-age companies in the ayurveda-focused beauty and also personal care area include Peak XV Partners and Fireplace Ventures-backed Nathabit, Second Sight Ventures-backed The Ayurveda Firm, as well as Vertex Ventures-backed Kapiva.Nathabit has actually apparently crossed an annualised earnings rate of Rs 100 crore in FY24, while Kapiva reported Rs 114 crore in operating revenue in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
Join the neighborhood of 2M+ business specialists.Register for our email list to receive most recent ideas & analysis.
Install ETRetail App.Obtain Realtime updates.Save your preferred write-ups.
Browse to download App.