.Representative imageBeauty and private care provider Honasa Buyer-- the parent facility of Mamaearth-- is actually ceasing its own ayurvedic appeal label Ayuga.In an earnings discussion on Friday, Honasa Individual mentioned it could not develop a product-market match and also started sunsetting the brand from June this year.Following the ending of Ayuga, Honasa Buyer will have 6 brands in its own collection-- Mamaearth, its most extensive brand, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the company offers colour cosmetics products.Honasa Customer disclosed a 19% year-on-year rise in operating earnings for the April-June time frame to Rs 554 crore, while net earnings climbed 62% on year to Rs 40 crore.In the presentation, Honasa mentioned Ayuga was launched to launch ayurvedic appeal items in modern layouts for Indian millennials back in December 2021. The brand name was actually renewed 2 years eventually, based on individual reviews, it added.However, the company stopped working to get any grip even with the modifications. Ayuga was actually an online simply brand.Other new-age labels in the ayurveda-focused elegance and also personal care room include Top XV Partners and Fireplace Ventures-backed Nathabit, Extrasensory Perception Ventures-backed The Ayurveda Company, and Vertex Ventures-backed Kapiva.Nathabit has reportedly crossed an annualised income rate of Rs 100 crore in FY24, while Kapiva reported Rs 114 crore in operating revenue in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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