.Agent imageBeauty and personal treatment firm Honasa Customer-- the moms and dad body of Mamaearth-- is discontinuing its own ayurvedic charm brand name Ayuga.In an earnings discussion on Friday, Honasa Buyer said it could certainly not establish a product-market fit and also started sunsetting the label from June this year.Following the ending of Ayuga, Honasa Buyer are going to possess 6 labels in its own collection-- Mamaearth, its own largest brand name, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the provider markets colour cosmetics products.Honasa Individual mentioned a 19% year-on-year rise in operating earnings for the April-June duration to Rs 554 crore, while net profit climbed 62% on year to Rs 40 crore.In the discussion, Honasa stated Ayuga was introduced to offer ayurvedic charm products in modern layouts for Indian millennials back in December 2021. The brand name was renewed two years later on, based on consumer feedback, it added.However, the brand name failed to obtain any sort of footing in spite of the adjustments. Ayuga was an online simply brand.Other new-age brands in the ayurveda-focused charm and also private treatment area include Height XV Allies and Fireside Ventures-backed Nathabit, Perception Ventures-backed The Ayurveda Provider, as well as Vertex Ventures-backed Kapiva.Nathabit has actually apparently crossed an annualised profits cost of Rs 100 crore in FY24, while Kapiva disclosed Rs 114 crore in operating earnings in FY23.
Released On Aug 10, 2024 at 01:18 PM IST.
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