.Representative imageBeauty and personal treatment provider Honasa Consumer-- the parent company of Mamaearth-- is discontinuing its own ayurvedic beauty label Ayuga.In an earnings discussion on Friday, Honasa Customer mentioned it can certainly not create a product-market match and began sunsetting the company coming from June this year.Following the ending of Ayuga, Honasa Buyer are going to possess six companies in its portfolio-- Mamaearth, its own biggest brand name, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the company sells colour cosmetics products.Honasa Consumer stated a 19% year-on-year increase in operating revenue for the April-June period to Rs 554 crore, while net profit climbed 62% on year to Rs 40 crore.In the discussion, Honasa pointed out Ayuga was actually introduced to present ayurvedic appeal items in present day formats for Indian millennials back in December 2021. The company was revamped two years later, based on individual feedback, it added.However, the brand name fell short to acquire any type of footing even with the improvements. Ayuga was an online just brand.Other new-age labels in the ayurveda-focused beauty as well as personal treatment space include Height XV Partners and also Fireside Ventures-backed Nathabit, Second Sight Ventures-backed The Ayurveda Firm, and Tip Ventures-backed Kapiva.Nathabit has reportedly intercrossed an annualised income fee of Rs one hundred crore in FY24, while Kapiva mentioned Rs 114 crore in operating profits in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
Participate in the neighborhood of 2M+ market professionals.Subscribe to our e-newsletter to acquire most current ideas & study.
Install ETRetail App.Get Realtime updates.Conserve your favorite posts.
Browse to download Application.