.Agent imageBeauty as well as private treatment firm Honasa Buyer-- the parent body of Mamaearth-- is actually stopping its own ayurvedic charm company Ayuga.In a profits discussion on Friday, Honasa Customer stated it could possibly not create a product-market match as well as started sunsetting the company coming from June this year.Following the ending of Ayuga, Honasa Customer will certainly have 6 labels in its own collection-- Mamaearth, its own largest brand, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the company sells colour cosmetics products.Honasa Customer mentioned a 19% year-on-year boost in operating income for the April-June period to Rs 554 crore, while net earnings climbed 62% on year to Rs 40 crore.In the discussion, Honasa mentioned Ayuga was actually launched to offer ayurvedic elegance products in present day layouts for Indian millennials back in December 2021. The company was actually spruced up two years later on, based upon buyer reviews, it added.However, the label stopped working to receive any grip even with the changes. Ayuga was an online merely brand.Other new-age brands in the ayurveda-focused elegance and also individual treatment space feature Top XV Partners and Fireside Ventures-backed Nathabit, Instinct Ventures-backed The Ayurveda Business, as well as Tip Ventures-backed Kapiva.Nathabit has reportedly crossed an annualised earnings price of Rs one hundred crore in FY24, while Kapiva mentioned Rs 114 crore in operating income in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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