.Rep imageBeauty and also individual care provider Honasa Consumer-- the parent body of Mamaearth-- is actually stopping its own ayurvedic appeal brand Ayuga.In an incomes presentation on Friday, Honasa Consumer claimed it can not create a product-market fit and started sunsetting the brand name from June this year.Following the discontinuation of Ayuga, Honasa Individual are going to possess six brands in its own profile-- Mamaearth, its own biggest company, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the business offers colour cosmetics products.Honasa Buyer reported a 19% year-on-year increase in operating profits for the April-June time frame to Rs 554 crore, while web income increased 62% on year to Rs 40 crore.In the discussion, Honasa mentioned Ayuga was launched to offer ayurvedic elegance products in modern styles for Indian millennials back in December 2021. The company was actually spruced up pair of years later, based on consumer responses, it added.However, the company fell short to receive any sort of traction regardless of the adjustments. Ayuga was actually an online simply brand.Other new-age brands in the ayurveda-focused appeal and also individual treatment space feature Peak XV Allies and also Fireplace Ventures-backed Nathabit, Extrasensory Perception Ventures-backed The Ayurveda Firm, as well as Tip Ventures-backed Kapiva.Nathabit has apparently crossed an annualised earnings fee of Rs 100 crore in FY24, while Kapiva disclosed Rs 114 crore in operating profits in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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