.Agent imageBeauty and also private treatment firm Honasa Customer-- the moms and dad company of Mamaearth-- is ceasing its own ayurvedic beauty company Ayuga.In a profits discussion on Friday, Honasa Consumer claimed it could not develop a product-market fit and began sunsetting the company coming from June this year.Following the ending of Ayuga, Honasa Consumer will have 6 companies in its profile-- Mamaearth, its largest brand name, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the business offers colour cosmetics products.Honasa Buyer mentioned a 19% year-on-year boost in operating profits for the April-June period to Rs 554 crore, while net profit climbed 62% on year to Rs 40 crore.In the presentation, Honasa said Ayuga was actually released to present ayurvedic beauty products in modern styles for Indian millennials back in December 2021. The company was actually overhauled pair of years later, based upon buyer feedback, it added.However, the brand name stopped working to obtain any sort of footing regardless of the adjustments. Ayuga was an online just brand.Other new-age brand names in the ayurveda-focused beauty as well as private care room consist of Top XV Partners and Fireside Ventures-backed Nathabit, Sixth Sense Ventures-backed The Ayurveda Provider, and Tip Ventures-backed Kapiva.Nathabit has actually apparently crossed an annualised profits fee of Rs 100 crore in FY24, while Kapiva reported Rs 114 crore in operating income in FY23.
Released On Aug 10, 2024 at 01:18 PM IST.
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