.Rep imageBeauty as well as personal care business Honasa Buyer-- the moms and dad entity of Mamaearth-- is actually stopping its ayurvedic appeal brand Ayuga.In a revenues discussion on Friday, Honasa Individual mentioned it could certainly not set up a product-market match and also started sunsetting the company from June this year.Following the discontinuation of Ayuga, Honasa Individual will possess 6 brands in its portfolio-- Mamaearth, its biggest company, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the provider offers colour cosmetics products.Honasa Buyer reported a 19% year-on-year increase in operating income for the April-June duration to Rs 554 crore, while internet profit rose 62% on year to Rs 40 crore.In the discussion, Honasa pointed out Ayuga was launched to offer ayurvedic charm items in modern-day formats for Indian millennials back in December 2021. The brand was actually renewed 2 years later, based upon individual comments, it added.However, the company failed to receive any footing regardless of the adjustments. Ayuga was actually an online only brand.Other new-age labels in the ayurveda-focused charm as well as individual care area feature Top XV Allies and also Fireplace Ventures-backed Nathabit, Extrasensory Perception Ventures-backed The Ayurveda Company, as well as Vertex Ventures-backed Kapiva.Nathabit has reportedly intercrossed an annualised revenue cost of Rs 100 crore in FY24, while Kapiva disclosed Rs 114 crore in operating revenue in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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