.Rep imageBeauty and individual treatment business Honasa Consumer-- the moms and dad company of Mamaearth-- is ceasing its ayurvedic beauty label Ayuga.In a revenues discussion on Friday, Honasa Consumer said it could possibly not develop a product-market match as well as started sunsetting the company from June this year.Following the discontinuation of Ayuga, Honasa Individual will definitely have 6 labels in its own profile-- Mamaearth, its own largest brand name, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, as well as Staze, under which the provider offers colour cosmetics products.Honasa Customer mentioned a 19% year-on-year rise in operating income for the April-June duration to Rs 554 crore, while net income rose 62% on year to Rs 40 crore.In the discussion, Honasa mentioned Ayuga was introduced to offer ayurvedic appeal items in present day styles for Indian millennials back in December 2021. The brand name was remodelled two years eventually, based upon customer comments, it added.However, the brand stopped working to receive any type of traction even with the modifications. Ayuga was actually an online simply brand.Other new-age labels in the ayurveda-focused beauty as well as individual care room include Top XV Allies as well as Fireside Ventures-backed Nathabit, Perception Ventures-backed The Ayurveda Firm, as well as Tip Ventures-backed Kapiva.Nathabit has apparently crossed an annualised earnings cost of Rs 100 crore in FY24, while Kapiva stated Rs 114 crore in operating income in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
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