.Rep imageBeauty as well as individual treatment firm Honasa Individual– the parent body of Mamaearth– is ceasing its own ayurvedic appeal brand Ayuga.In an incomes discussion on Friday, Honasa Buyer stated it might not create a product-market match as well as started sunsetting the label from June this year.Following the ending of Ayuga, Honasa Individual are going to possess 6 brands 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 Individual mentioned a 19% year-on-year increase in operating revenue for the April-June time period to Rs 554 crore, while web income increased 62% on year to Rs 40 crore.In the presentation, Honasa mentioned Ayuga was introduced to introduce ayurvedic appeal items in modern formats for Indian millennials back in December 2021. The label was renewed pair of years later, based on consumer reviews, it added.However, the label neglected to acquire any footing despite the adjustments. Ayuga was an online merely brand.Other new-age labels in the ayurveda-focused elegance and also private care space consist of Peak XV Partners and also Fireside Ventures-backed Nathabit, Premonition Ventures-backed The Ayurveda Business, as well as Vertex Ventures-backed Kapiva.Nathabit has actually supposedly crossed an annualised profits fee of Rs 100 crore in FY24, while Kapiva mentioned Rs 114 crore in operating revenue in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST. Participate in the area of 2M+ sector specialists.Register for our newsletter to obtain latest ideas & study. Install ETRetail Application.Receive Realtime updates.Save your favorite articles.
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