.Representative imageBeauty as well as personal care business Honasa Buyer-- the moms and dad facility of Mamaearth-- is actually ceasing its ayurvedic beauty brand name Ayuga.In an earnings presentation on Friday, Honasa Customer claimed it could certainly not develop a product-market fit and began sunsetting the brand from June this year.Following the discontinuation of Ayuga, Honasa Buyer will certainly have 6 companies in its own portfolio-- Mamaearth, its own largest company, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the business markets colour cosmetics products.Honasa Customer stated a 19% year-on-year boost in operating profits for the April-June duration to Rs 554 crore, while internet revenue rose 62% on year to Rs 40 crore.In the discussion, Honasa stated Ayuga was actually released to present ayurvedic charm items in modern-day layouts for Indian millennials back in December 2021. The company was actually renewed pair of years later, based on buyer feedback, it added.However, the company neglected to obtain any kind of traction despite the adjustments. Ayuga was an online simply brand.Other new-age labels in the ayurveda-focused charm and private care space consist of Peak XV Partners and also Fireplace Ventures-backed Nathabit, Intuitiveness Ventures-backed The Ayurveda Company, and Tip Ventures-backed Kapiva.Nathabit has supposedly intercrossed an annualised earnings price of Rs one hundred crore in FY24, while Kapiva disclosed Rs 114 crore in operating earnings in FY23.
Released On Aug 10, 2024 at 01:18 PM IST.
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