.Rep imageBeauty as well as individual treatment company Honasa Customer-- the moms and dad company of Mamaearth-- is discontinuing its own ayurvedic beauty company Ayuga.In an incomes discussion on Friday, Honasa Consumer mentioned it might not create a product-market match and also started sunsetting the label from June this year.Following the discontinuation of Ayuga, Honasa Customer will have six companies in its own portfolio-- Mamaearth, its largest brand, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, as well as Staze, under which the business markets colour cosmetics products.Honasa Consumer disclosed a 19% year-on-year increase in operating profits for the April-June time frame to Rs 554 crore, while net earnings climbed 62% on year to Rs 40 crore.In the discussion, Honasa mentioned Ayuga was launched to offer ayurvedic appeal products in modern-day layouts for Indian millennials back in December 2021. The brand name was overhauled pair of years later on, based upon consumer feedback, it added.However, the label fell short to obtain any grip in spite of the changes. Ayuga was actually an online just brand.Other new-age labels in the ayurveda-focused elegance and individual treatment room consist of Peak XV Partners and Fireplace Ventures-backed Nathabit, Premonition Ventures-backed The Ayurveda Business, and Tip Ventures-backed Kapiva.Nathabit has supposedly intercrossed an annualised earnings fee of Rs one hundred crore in FY24, while Kapiva stated Rs 114 crore in operating profits in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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