.Agent imageBeauty as well as private care firm Honasa Individual-- the parent company of Mamaearth-- is terminating its ayurvedic appeal company Ayuga.In an earnings discussion on Friday, Honasa Consumer stated it might certainly not set up a product-market match as well as began sunsetting the label from June this year.Following the ending of Ayuga, Honasa Consumer will definitely have six brand names in its own portfolio-- Mamaearth, its largest label, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the business markets colour cosmetics products.Honasa Individual stated a 19% year-on-year rise in operating profits for the April-June time period to Rs 554 crore, while internet revenue increased 62% on year to Rs 40 crore.In the discussion, Honasa pointed out Ayuga was actually introduced to launch ayurvedic beauty products in present day styles for Indian millennials back in December 2021. The company was actually spruced up 2 years later on, based upon consumer reviews, it added.However, the label failed to obtain any kind of footing in spite of the changes. Ayuga was actually an online just brand.Other new-age brand names in the ayurveda-focused beauty and private care space include Peak XV Partners as well as Fireplace Ventures-backed Nathabit, Extrasensory Perception Ventures-backed The Ayurveda Firm, and also Vertex Ventures-backed Kapiva.Nathabit has reportedly crossed an annualised earnings cost of Rs 100 crore in FY24, while Kapiva reported Rs 114 crore in operating revenue in FY23.
Released On Aug 10, 2024 at 01:18 PM IST.
Sign up with the community of 2M+ sector experts.Register for our bulletin to get most current ideas & analysis.
Download And Install ETRetail Application.Obtain Realtime updates.Save your favourite short articles.
Scan to download App.