.Representative imageBeauty as well as private care provider Honasa Consumer-- the moms and dad body of Mamaearth-- is actually discontinuing its ayurvedic appeal company Ayuga.In a revenues discussion on Friday, Honasa Buyer mentioned it might certainly not create a product-market fit and also began sunsetting the brand name coming from June this year.Following the ending of Ayuga, Honasa Buyer will certainly possess 6 brands in its portfolio-- Mamaearth, its own most extensive label, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the firm sells colour cosmetics products.Honasa Consumer reported a 19% year-on-year increase in operating profits for the April-June time period to Rs 554 crore, while net earnings climbed 62% on year to Rs 40 crore.In the discussion, Honasa stated Ayuga was launched to offer ayurvedic appeal products in modern styles for Indian millennials back in December 2021. The brand was actually spruced up two years eventually, based on buyer responses, it added.However, the company neglected to get any traction regardless of the improvements. Ayuga was actually an online just brand.Other new-age labels in the ayurveda-focused elegance as well as private care area include Height XV Partners and Fireplace Ventures-backed Nathabit, Perception Ventures-backed The Ayurveda Company, as well as Tip Ventures-backed Kapiva.Nathabit has apparently crossed an annualised profits cost of Rs one hundred crore in FY24, while Kapiva disclosed Rs 114 crore in operating profits in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
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