.Representative imageBeauty as well as individual care business Honasa Consumer– the parent company of Mamaearth– is actually terminating its own ayurvedic charm label Ayuga.In an incomes presentation on Friday, Honasa Consumer claimed it can certainly not set up a product-market fit as well as began sunsetting the label from June this year.Following the ending of Ayuga, Honasa Customer will have six companies in its own profile– Mamaearth, its biggest brand name, The Derma Carbon Monoxide, Aqualogica, Dr Sheth’s, BBlunt, as well as Staze, under which the firm sells colour cosmetics products.Honasa Customer stated a 19% year-on-year boost in operating earnings for the April-June time frame to Rs 554 crore, while internet revenue climbed 62% on year to Rs 40 crore.In the discussion, Honasa said Ayuga was released to present ayurvedic charm products in contemporary styles for Indian millennials back in December 2021. The brand name was actually spruced up 2 years later, based on buyer comments, it added.However, the label fell short to receive any grip despite the improvements. Ayuga was actually an online only brand.Other new-age brands in the ayurveda-focused appeal as well as individual treatment room include Top XV Allies as well as Fireplace Ventures-backed Nathabit, Intuitiveness Ventures-backed The Ayurveda Business, and also Vertex Ventures-backed Kapiva.Nathabit has actually apparently intercrossed an annualised income cost of Rs 100 crore in FY24, while Kapiva reported Rs 114 crore in operating revenue in FY23.
Released On Aug 10, 2024 at 01:18 PM IST. Join the area of 2M+ field professionals.Sign up for our newsletter to receive latest knowledge & analysis. Download ETRetail App.Acquire Realtime updates.Spare your preferred posts.
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