.Rep imageBeauty and also private treatment business Honasa Individual-- the parent facility of Mamaearth-- is actually stopping its own ayurvedic elegance company Ayuga.In an earnings discussion on Friday, Honasa Consumer mentioned it could not develop a product-market fit and began sunsetting the company from June this year.Following the discontinuation of Ayuga, Honasa Consumer will possess six brands in its own collection-- Mamaearth, its most extensive brand name, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the provider markets colour cosmetics products.Honasa Buyer disclosed a 19% year-on-year increase in operating earnings for the April-June time frame to Rs 554 crore, while net profit climbed 62% on year to Rs 40 crore.In the discussion, Honasa pointed out Ayuga was released to offer ayurvedic beauty items in modern layouts for Indian millennials back in December 2021. The company was actually renewed 2 years eventually, based upon consumer comments, it added.However, the company fell short to obtain any traction even with the improvements. Ayuga was actually an online only brand.Other new-age brand names in the ayurveda-focused elegance and also individual care space include Optimal XV Partners and also Fireside Ventures-backed Nathabit, Sixth Sense Ventures-backed The Ayurveda Firm, as well as Vertex Ventures-backed Kapiva.Nathabit has reportedly crossed an annualised income cost of Rs one hundred crore in FY24, while Kapiva stated Rs 114 crore in operating revenue in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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