.Representative imageBeauty and private treatment firm Honasa Individual-- the moms and dad facility of Mamaearth-- is actually stopping its ayurvedic beauty brand Ayuga.In a profits discussion on Friday, Honasa Customer said it can not create a product-market fit and also started sunsetting the company coming from June this year.Following the discontinuation of Ayuga, Honasa Individual will possess 6 brands in its collection-- Mamaearth, its own biggest brand, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the provider offers colour cosmetics products.Honasa Individual mentioned a 19% year-on-year rise in operating revenue for the April-June time period to Rs 554 crore, while net earnings increased 62% on year to Rs 40 crore.In the discussion, Honasa said Ayuga was actually released to launch ayurvedic beauty items in modern layouts for Indian millennials back in December 2021. The label was actually overhauled pair of years later on, based upon individual responses, it added.However, the brand neglected to obtain any sort of grip even with the improvements. Ayuga was an online just brand.Other new-age labels in the ayurveda-focused charm and also private treatment space include Optimal XV Partners as well as Fireside Ventures-backed Nathabit, Instinct Ventures-backed The Ayurveda Business, as well as Tip Ventures-backed Kapiva.Nathabit has actually supposedly crossed an annualised earnings price of Rs 100 crore in FY24, while Kapiva reported Rs 114 crore in operating profits in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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