.Agent imageBeauty as well as personal care company Honasa Individual– the parent company of Mamaearth– is stopping its ayurvedic elegance label Ayuga.In an earnings presentation on Friday, Honasa Consumer claimed it might not set up a product-market match and began sunsetting the brand coming from June this year.Following the ending of Ayuga, Honasa Buyer will certainly have six companies in its profile– Mamaearth, its largest brand name, The Derma Carbon Monoxide, Aqualogica, Dr Sheth’s, BBlunt, and Staze, under which the business offers colour cosmetics products.Honasa Customer disclosed a 19% year-on-year increase in operating income for the April-June duration to Rs 554 crore, while internet revenue increased 62% on year to Rs 40 crore.In the discussion, Honasa said Ayuga was actually released to launch ayurvedic appeal items in present day layouts for Indian millennials back in December 2021. The label was overhauled pair of years eventually, based on buyer reviews, it added.However, the brand name neglected to get any sort of grip even with the changes. Ayuga was actually an online only brand.Other new-age brands in the ayurveda-focused charm and also private care room include Optimal XV Partners and also Fireplace Ventures-backed Nathabit, Instinct Ventures-backed The Ayurveda Firm, and also Vertex Ventures-backed Kapiva.Nathabit has actually reportedly intercrossed an annualised earnings cost of Rs 100 crore in FY24, while Kapiva stated Rs 114 crore in operating income in FY23.
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