.Agent imageBeauty and also private treatment firm Honasa Buyer-- the moms and dad entity of Mamaearth-- is actually terminating its ayurvedic beauty brand Ayuga.In an earnings presentation on Friday, Honasa Buyer said it could not establish a product-market match and began sunsetting the brand name from June this year.Following the discontinuation of Ayuga, Honasa Individual will definitely have six brands in its portfolio-- Mamaearth, its biggest company, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the provider sells colour cosmetics products.Honasa Customer disclosed a 19% year-on-year boost in operating profits for the April-June period to Rs 554 crore, while web profit climbed 62% on year to Rs 40 crore.In the presentation, Honasa said Ayuga was actually released to present ayurvedic charm items in contemporary layouts for Indian millennials back in December 2021. The brand name was revamped 2 years eventually, based upon consumer comments, it added.However, the brand name neglected to receive any traction in spite of the changes. Ayuga was actually an online just brand.Other new-age brand names in the ayurveda-focused appeal as well as personal treatment area feature Height XV Partners and also Fireside Ventures-backed Nathabit, Sixth Sense Ventures-backed The Ayurveda Firm, as well as Vertex Ventures-backed Kapiva.Nathabit has actually supposedly crossed an annualised income fee of Rs 100 crore in FY24, while Kapiva reported Rs 114 crore in operating earnings in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
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