.Representative imageBeauty as well as private treatment firm Honasa Individual-- the parent body of Mamaearth-- is stopping its own ayurvedic beauty company Ayuga.In an incomes presentation on Friday, Honasa Customer said it might not set up a product-market fit and started sunsetting the brand name coming from June this year.Following the discontinuation of Ayuga, Honasa Customer are going to possess 6 brand names in its own portfolio-- Mamaearth, its largest brand, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the firm offers colour cosmetics products.Honasa Individual disclosed a 19% year-on-year rise in operating profits for the April-June time period to Rs 554 crore, while net profit climbed 62% on year to Rs 40 crore.In the presentation, Honasa stated Ayuga was actually launched to offer ayurvedic charm products in present day layouts for Indian millennials back in December 2021. The brand name was actually revamped 2 years later, based on individual comments, it added.However, the brand name fell short to acquire any grip regardless of the improvements. Ayuga was an online just brand.Other new-age labels in the ayurveda-focused elegance and individual care space consist of Peak XV Partners and also Fireside Ventures-backed Nathabit, Perception Ventures-backed The Ayurveda Provider, as well as Vertex Ventures-backed Kapiva.Nathabit has actually supposedly intercrossed an annualised revenue price of Rs one hundred crore in FY24, while Kapiva stated Rs 114 crore in operating revenue in FY23.
Released On Aug 10, 2024 at 01:18 PM IST.
Join the community of 2M+ sector experts.Sign up for our e-newsletter to obtain most current understandings & analysis.
Install ETRetail App.Obtain Realtime updates.Save your favourite short articles.
Scan to install Application.