.Agent imageBeauty and also personal care business Honasa Consumer– the parent facility of Mamaearth– is actually terminating its ayurvedic appeal brand name Ayuga.In an incomes presentation on Friday, Honasa Buyer stated it can certainly not develop a product-market match and started sunsetting the brand coming from June this year.Following the ending of Ayuga, Honasa Consumer are going to have 6 companies in its own portfolio– Mamaearth, its own most extensive brand name, The Derma Carbon Monoxide, Aqualogica, Dr Sheth’s, BBlunt, and also Staze, under which the company markets colour cosmetics products.Honasa Customer disclosed a 19% year-on-year increase in operating revenue for the April-June duration to Rs 554 crore, while net profit rose 62% on year to Rs 40 crore.In the discussion, Honasa claimed Ayuga was actually released to offer ayurvedic beauty products in modern styles for Indian millennials back in December 2021. The label was actually spruced up pair of years later, based on buyer responses, it added.However, the company neglected to obtain any kind of grip in spite of the modifications. Ayuga was an online simply brand.Other new-age labels in the ayurveda-focused elegance as well as private care space include Height XV Allies as well as Fireplace Ventures-backed Nathabit, Extrasensory Perception Ventures-backed The Ayurveda Provider, and also Vertex Ventures-backed Kapiva.Nathabit has supposedly crossed an annualised earnings price of Rs one hundred crore in FY24, while Kapiva reported Rs 114 crore in operating income in FY23.
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