.Agent imageBeauty and individual treatment company Honasa Consumer-- the moms and dad facility of Mamaearth-- is discontinuing its ayurvedic elegance label Ayuga.In an earnings discussion on Friday, Honasa Individual mentioned it can certainly not set up a product-market match as well as began sunsetting the label from June this year.Following the ending of Ayuga, Honasa Buyer will definitely possess six labels in its profile-- Mamaearth, its own most extensive brand name, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the provider offers colour cosmetics products.Honasa Buyer disclosed a 19% year-on-year rise in operating earnings for the April-June time period to Rs 554 crore, while web earnings increased 62% on year to Rs 40 crore.In the presentation, Honasa stated Ayuga was actually released to launch ayurvedic beauty items in modern-day formats for Indian millennials back in December 2021. The label was overhauled two years later, based upon buyer comments, it added.However, the label failed to receive any traction in spite of the improvements. Ayuga was an online merely brand.Other new-age labels in the ayurveda-focused elegance and also individual care area feature Optimal XV Allies and Fireside Ventures-backed Nathabit, Premonition Ventures-backed The Ayurveda Firm, and Tip Ventures-backed Kapiva.Nathabit has actually supposedly crossed an annualised revenue price of Rs one hundred crore in FY24, while Kapiva stated Rs 114 crore in operating earnings in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
Join the area of 2M+ industry experts.Subscribe to our newsletter to acquire most recent insights & evaluation.
Download ETRetail App.Acquire Realtime updates.Conserve your favorite posts.
Scan to download Application.