.Agent imageBeauty and also individual care company Honasa Customer– the parent facility of Mamaearth– is actually discontinuing its ayurvedic charm brand name Ayuga.In a profits discussion on Friday, Honasa Customer said it can not develop a product-market match and began sunsetting the company coming from June this year.Following the discontinuation of Ayuga, Honasa Individual will certainly have 6 companies in its collection– Mamaearth, its own largest brand, The Derma Co, Aqualogica, Dr Sheth’s, BBlunt, as well as Staze, under which the company sells colour cosmetics products.Honasa Individual disclosed a 19% year-on-year increase in operating income for the April-June time period to Rs 554 crore, while net profit increased 62% on year to Rs 40 crore.In the presentation, Honasa mentioned Ayuga was actually launched to offer ayurvedic elegance products in modern formats for Indian millennials back in December 2021. The brand name was remodelled two years eventually, based on individual feedback, it added.However, the label failed to obtain any sort of grip regardless of the changes. Ayuga was an online merely brand.Other new-age brand names in the ayurveda-focused charm and also private treatment space consist of Peak XV Allies as well as Fireplace Ventures-backed Nathabit, Premonition Ventures-backed The Ayurveda Company, and also Vertex Ventures-backed Kapiva.Nathabit has actually supposedly intercrossed an annualised earnings cost of Rs one hundred crore in FY24, while Kapiva mentioned Rs 114 crore in operating profits in FY23.
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