.Representative imageBeauty and also private treatment firm Honasa Individual-- the moms and dad facility of Mamaearth-- is terminating its own ayurvedic appeal brand Ayuga.In a revenues discussion on Friday, Honasa Consumer claimed it might certainly not create a product-market fit as well as began sunsetting the company from June this year.Following the discontinuation of Ayuga, Honasa Buyer will have six companies in its profile-- Mamaearth, its own biggest brand name, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the firm sells colour cosmetics products.Honasa Customer reported a 19% year-on-year rise in operating profits for the April-June time period to Rs 554 crore, while net income rose 62% on year to Rs 40 crore.In the presentation, Honasa pointed out Ayuga was introduced to present ayurvedic charm products in contemporary layouts for Indian millennials back in December 2021. The label was remodelled pair of years later on, based on customer responses, it added.However, the brand neglected to obtain any traction in spite of the modifications. Ayuga was an online just brand.Other new-age brands in the ayurveda-focused appeal as well as private treatment area include Peak XV Allies and Fireplace Ventures-backed Nathabit, Intuition Ventures-backed The Ayurveda Business, and also Tip Ventures-backed Kapiva.Nathabit has actually apparently intercrossed an annualised income price of Rs 100 crore in FY24, while Kapiva mentioned Rs 114 crore in operating profits in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
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