.Representative imageBeauty as well as private care company Honasa Consumer-- the parent facility of Mamaearth-- is stopping its own ayurvedic appeal label Ayuga.In a profits presentation on Friday, Honasa Buyer said it can not establish a product-market fit as well as began sunsetting the label from June this year.Following the ending of Ayuga, Honasa Consumer will certainly possess six brands in its own portfolio-- Mamaearth, its most extensive brand, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the company markets colour cosmetics products.Honasa Consumer disclosed a 19% year-on-year increase in operating earnings for the April-June period to Rs 554 crore, while internet earnings increased 62% on year to Rs 40 crore.In the presentation, Honasa pointed out Ayuga was introduced to introduce ayurvedic elegance products in contemporary formats for Indian millennials back in December 2021. The company was actually revamped 2 years later on, based upon buyer comments, it added.However, the label stopped working to get any type of footing in spite of the improvements. Ayuga was an online only brand.Other new-age labels in the ayurveda-focused elegance and private care space feature Top XV Allies as well as Fireplace Ventures-backed Nathabit, Second Sight Ventures-backed The Ayurveda Firm, and also Tip Ventures-backed Kapiva.Nathabit has supposedly intercrossed an annualised earnings fee of Rs one hundred crore in FY24, while Kapiva reported Rs 114 crore in operating earnings in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
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