.Agent imageBeauty as well as private care business Honasa Individual– the moms and dad company of Mamaearth– is ceasing its ayurvedic charm label Ayuga.In a profits presentation on Friday, Honasa Customer said it might certainly not establish a product-market match and began sunsetting the brand name coming from June this year.Following the ending of Ayuga, Honasa Customer will certainly possess 6 brand names in its own portfolio– Mamaearth, its own most extensive company, The Derma Co, Aqualogica, Dr Sheth’s, BBlunt, and also Staze, under which the company sells colour cosmetics products.Honasa Buyer disclosed a 19% year-on-year increase in operating earnings for the April-June time frame to Rs 554 crore, while net earnings climbed 62% on year to Rs 40 crore.In the presentation, Honasa said Ayuga was released to present ayurvedic beauty items in present day styles for Indian millennials back in December 2021. The brand was revamped two years later, based upon consumer responses, it added.However, the brand neglected to receive any type of traction even with the changes. Ayuga was actually an online simply brand.Other new-age brands in the ayurveda-focused charm and also private care area include Peak XV Allies as well as Fireside Ventures-backed Nathabit, Premonition Ventures-backed The Ayurveda Company, and also Tip Ventures-backed Kapiva.Nathabit has actually reportedly intercrossed an annualised income cost of Rs one hundred crore in FY24, while Kapiva reported Rs 114 crore in operating revenue in FY23.
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