.Rep imageBeauty and individual treatment business Honasa Customer– the moms and dad company of Mamaearth– is actually discontinuing its ayurvedic appeal label Ayuga.In a revenues discussion on Friday, Honasa Individual claimed it can not set up a product-market match as well as started sunsetting the company from June this year.Following the discontinuation of Ayuga, Honasa Buyer will definitely have 6 brand names in its own profile– Mamaearth, its largest brand name, The Derma Co, Aqualogica, Dr Sheth’s, BBlunt, as well as Staze, under which the firm sells colour cosmetics products.Honasa Buyer reported a 19% year-on-year rise in operating profits for the April-June time period to Rs 554 crore, while internet earnings rose 62% on year to Rs 40 crore.In the presentation, Honasa mentioned Ayuga was actually released to launch ayurvedic elegance products in modern styles for Indian millennials back in December 2021. The label was actually renewed 2 years eventually, based on customer comments, it added.However, the brand name neglected to get any type of grip in spite of the changes. Ayuga was actually an online only brand.Other new-age companies in the ayurveda-focused charm and individual treatment area consist of Top XV Partners and Fireside Ventures-backed Nathabit, Premonition Ventures-backed The Ayurveda Provider, and Tip Ventures-backed Kapiva.Nathabit has actually apparently crossed an annualised income fee of Rs one hundred crore in FY24, while Kapiva mentioned Rs 114 crore in operating earnings in FY23.
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