.Agent imageBeauty and individual care company Honasa Individual-- the parent entity of Mamaearth-- is actually terminating its own ayurvedic appeal label Ayuga.In an earnings presentation on Friday, Honasa Consumer mentioned it can not set up a product-market fit and began sunsetting the brand name from June this year.Following the ending of Ayuga, Honasa Customer are going to have six labels in its profile-- Mamaearth, its own biggest label, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, as well as Staze, under which the firm markets colour cosmetics products.Honasa Customer mentioned a 19% year-on-year rise in operating income for the April-June time frame to Rs 554 crore, while web income climbed 62% on year to Rs 40 crore.In the presentation, Honasa said Ayuga was actually launched to present ayurvedic appeal products in present day styles for Indian millennials back in December 2021. The company was remodelled two years later, based upon consumer responses, it added.However, the company neglected to acquire any traction regardless of the improvements. Ayuga was actually an online just brand.Other new-age companies in the ayurveda-focused charm and also private treatment room feature Top XV Partners and also Fireside Ventures-backed Nathabit, Second Sight Ventures-backed The Ayurveda Provider, as well as Vertex Ventures-backed Kapiva.Nathabit has supposedly intercrossed an annualised earnings price of Rs 100 crore in FY24, while Kapiva disclosed Rs 114 crore in operating profits in FY23.
Released On Aug 10, 2024 at 01:18 PM IST.
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