.Rep imageBeauty as well as personal treatment firm Honasa Buyer– the parent facility of Mamaearth– is ceasing its ayurvedic elegance brand name Ayuga.In an earnings presentation on Friday, Honasa Consumer mentioned it might certainly not create a product-market match and also began sunsetting the label coming from June this year.Following the discontinuation of Ayuga, Honasa Individual are going to have six brands in its profile– Mamaearth, its largest company, The Derma Co, Aqualogica, Dr Sheth’s, BBlunt, and also Staze, under which the company markets colour cosmetics products.Honasa Individual mentioned a 19% year-on-year boost in operating profits for the April-June time frame to Rs 554 crore, while net income rose 62% on year to Rs 40 crore.In the discussion, Honasa claimed Ayuga was introduced to present ayurvedic elegance products in modern layouts for Indian millennials back in December 2021. The brand was actually revamped two years later, based on customer feedback, it added.However, the label failed to acquire any kind of traction regardless of the adjustments. Ayuga was an online merely brand.Other new-age labels in the ayurveda-focused beauty and also individual treatment space include Top XV Allies as well as Fireplace Ventures-backed Nathabit, Premonition Ventures-backed The Ayurveda Firm, as well as Tip Ventures-backed Kapiva.Nathabit has actually supposedly intercrossed an annualised revenue cost of Rs 100 crore in FY24, while Kapiva stated Rs 114 crore in operating revenue in FY23.
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