.Representative imageBeauty and also individual treatment company Honasa Customer-- the moms and dad entity of Mamaearth-- is stopping its ayurvedic appeal brand name Ayuga.In an earnings presentation on Friday, Honasa Consumer claimed it can not establish a product-market match and began sunsetting the brand from June this year.Following the discontinuation of Ayuga, Honasa Customer will have 6 brands in its profile-- Mamaearth, its own most extensive brand name, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the provider offers colour cosmetics products.Honasa Buyer reported a 19% year-on-year increase in operating profits for the April-June time period to Rs 554 crore, while web profit climbed 62% on year to Rs 40 crore.In the presentation, Honasa claimed Ayuga was released to launch ayurvedic appeal products in modern-day styles for Indian millennials back in December 2021. The brand was actually overhauled pair of years later on, based upon customer responses, it added.However, the label neglected to obtain any grip regardless of the adjustments. Ayuga was an online just brand.Other new-age brands in the ayurveda-focused charm and also personal treatment area feature Top XV Allies as well as Fireside Ventures-backed Nathabit, Perception Ventures-backed The Ayurveda Firm, as well as Vertex Ventures-backed Kapiva.Nathabit has actually apparently intercrossed an annualised profits rate of Rs one hundred crore in FY24, while Kapiva disclosed Rs 114 crore in operating income in FY23.
Released On Aug 10, 2024 at 01:18 PM IST.
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