.Agent imageBeauty and personal care firm Honasa Individual– the moms and dad body of Mamaearth– is stopping its own ayurvedic beauty brand Ayuga.In an earnings discussion on Friday, Honasa Consumer stated it might certainly not develop a product-market fit and also began sunsetting the label coming from June this year.Following the ending of Ayuga, Honasa Individual will possess six brand names in its profile– Mamaearth, its own biggest label, The Derma Carbon Monoxide, Aqualogica, Dr Sheth’s, BBlunt, as well as Staze, under which the firm offers colour cosmetics products.Honasa Consumer mentioned a 19% year-on-year boost in operating profits for the April-June duration to Rs 554 crore, while web earnings increased 62% on year to Rs 40 crore.In the discussion, Honasa said Ayuga was released to present ayurvedic beauty items in contemporary formats for Indian millennials back in December 2021. The brand name was spruced up 2 years later, based on individual feedback, it added.However, the brand name stopped working to receive any type of traction despite the modifications. Ayuga was an online merely brand.Other new-age companies in the ayurveda-focused charm and also private treatment room include Peak XV Partners and Fireside Ventures-backed Nathabit, Premonition Ventures-backed The Ayurveda Firm, and Tip Ventures-backed Kapiva.Nathabit has actually reportedly crossed an annualised revenue rate of Rs one hundred crore in FY24, while Kapiva mentioned Rs 114 crore in operating earnings in FY23.
Released On Aug 10, 2024 at 01:18 PM IST. Join the neighborhood of 2M+ field experts.Register for our newsletter to acquire most recent knowledge & evaluation. Install ETRetail Application.Get Realtime updates.Spare your favourite write-ups.
Scan to download Application.