.Representative imageBeauty and private care company Honasa Customer– the moms and dad company of Mamaearth– is actually stopping its ayurvedic appeal brand name Ayuga.In a profits discussion on Friday, Honasa Buyer mentioned it might certainly not develop a product-market fit and also started sunsetting the company from June this year.Following the discontinuation of Ayuga, Honasa Consumer are going to possess six labels in its own profile– Mamaearth, its most extensive label, The Derma Carbon Monoxide, Aqualogica, Dr Sheth’s, BBlunt, and Staze, under which the company markets colour cosmetics products.Honasa Buyer disclosed a 19% year-on-year boost in operating profits for the April-June duration to Rs 554 crore, while web revenue rose 62% on year to Rs 40 crore.In the discussion, Honasa mentioned Ayuga was actually launched to offer ayurvedic beauty products in modern styles for Indian millennials back in December 2021. The company was actually remodelled two years later on, based upon consumer reviews, it added.However, the brand failed to acquire any grip regardless of the adjustments. Ayuga was an online simply brand.Other new-age brand names in the ayurveda-focused elegance and also individual care area include Height XV Allies and also Fireside Ventures-backed Nathabit, Sixth Sense Ventures-backed The Ayurveda Business, and Vertex Ventures-backed Kapiva.Nathabit has actually supposedly intercrossed an annualised revenue rate of Rs one hundred crore in FY24, while Kapiva disclosed Rs 114 crore in operating revenue in FY23.
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