.Agent imageBeauty and also private treatment business Honasa Customer-- the moms and dad facility of Mamaearth-- is ceasing its ayurvedic beauty brand Ayuga.In a revenues discussion on Friday, Honasa Individual stated it might certainly not set up a product-market match and also began sunsetting the brand name from June this year.Following the ending of Ayuga, Honasa Customer will have six brand names in its profile-- Mamaearth, its own biggest brand name, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, as well as Staze, under which the firm offers colour cosmetics products.Honasa Customer mentioned a 19% year-on-year increase in operating income for the April-June duration to Rs 554 crore, while internet earnings climbed 62% on year to Rs 40 crore.In the presentation, Honasa mentioned Ayuga was launched to offer ayurvedic appeal products in contemporary styles for Indian millennials back in December 2021. The brand was actually overhauled 2 years later on, based on customer reviews, it added.However, the label fell short to get any traction in spite of the modifications. Ayuga was an online simply brand.Other new-age companies in the ayurveda-focused elegance and individual treatment space feature Peak XV Allies and Fireplace Ventures-backed Nathabit, Extrasensory Perception Ventures-backed The Ayurveda Company, as well as Vertex Ventures-backed Kapiva.Nathabit has actually apparently intercrossed an annualised income rate of Rs one hundred crore in FY24, while Kapiva mentioned Rs 114 crore in operating revenue in FY23.
Released On Aug 10, 2024 at 01:18 PM IST.
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