.Agent imageBeauty as well as personal care business Honasa Individual-- the moms and dad company of Mamaearth-- is terminating its ayurvedic charm company Ayuga.In a revenues presentation on Friday, Honasa Individual claimed it might certainly not establish a product-market match and started sunsetting the label coming from June this year.Following the ending of Ayuga, Honasa Individual will definitely have 6 labels in its portfolio-- Mamaearth, its largest brand, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the business offers colour cosmetics products.Honasa Individual mentioned a 19% year-on-year boost in operating earnings for the April-June time period to Rs 554 crore, while net income increased 62% on year to Rs 40 crore.In the discussion, Honasa mentioned Ayuga was actually introduced to introduce ayurvedic beauty items in present day layouts for Indian millennials back in December 2021. The brand was revamped pair of years eventually, based upon customer responses, it added.However, the label neglected to acquire any type of traction regardless of the adjustments. Ayuga was actually an online merely brand.Other new-age brands in the ayurveda-focused appeal as well as personal care area feature Peak XV Partners as well as Fireside Ventures-backed Nathabit, Sixth Sense Ventures-backed The Ayurveda Company, and also Vertex Ventures-backed Kapiva.Nathabit has actually reportedly intercrossed an annualised earnings cost of Rs one hundred crore in FY24, while Kapiva mentioned Rs 114 crore in operating income in FY23.
Released On Aug 10, 2024 at 01:18 PM IST.
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