.Representative imageBeauty and also personal treatment provider Honasa Buyer– the moms and dad company of Mamaearth– is stopping its own ayurvedic elegance brand name Ayuga.In a profits presentation on Friday, Honasa Individual claimed it could possibly not develop a product-market match and also started sunsetting the brand name from June this year.Following the discontinuation of Ayuga, Honasa Customer will definitely have 6 brand names in its collection– Mamaearth, its own most extensive company, The Derma Co, Aqualogica, Dr Sheth’s, BBlunt, and Staze, under which the business sells colour cosmetics products.Honasa Consumer stated a 19% year-on-year rise in operating profits for the April-June time frame to Rs 554 crore, while internet profit climbed 62% on year to Rs 40 crore.In the discussion, Honasa stated Ayuga was actually introduced to offer ayurvedic charm items in modern styles for Indian millennials back in December 2021. The company was overhauled pair of years eventually, based on buyer feedback, it added.However, the brand fell short to obtain any type of footing in spite of the changes. Ayuga was an online simply brand.Other new-age companies in the ayurveda-focused beauty and also personal care space feature Top XV Allies as well as Fireplace Ventures-backed Nathabit, Intuitiveness Ventures-backed The Ayurveda Company, as well as Tip Ventures-backed Kapiva.Nathabit has reportedly crossed an annualised earnings cost of Rs one hundred crore in FY24, while Kapiva disclosed Rs 114 crore in operating earnings in FY23.
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