.Rep imageBeauty and personal treatment business Honasa Consumer– the moms and dad body of Mamaearth– is ceasing its ayurvedic beauty company Ayuga.In an earnings discussion on Friday, Honasa Consumer stated it can certainly not develop a product-market fit as well as began sunsetting the brand name coming from June this year.Following the discontinuation of Ayuga, Honasa Buyer are going to possess six companies in its own collection– Mamaearth, its biggest company, The Derma Carbon Monoxide, Aqualogica, Dr Sheth’s, BBlunt, and also Staze, under which the firm sells colour cosmetics products.Honasa Buyer disclosed a 19% year-on-year increase in operating earnings for the April-June period to Rs 554 crore, while net revenue climbed 62% on year to Rs 40 crore.In the discussion, Honasa said Ayuga was launched to introduce ayurvedic elegance products in present day layouts for Indian millennials back in December 2021. The brand name was actually spruced up two years eventually, based upon buyer feedback, it added.However, the brand name failed to get any footing in spite of the changes. Ayuga was actually an online just brand.Other new-age labels in the ayurveda-focused elegance and private care area feature Height XV Allies and Fireplace Ventures-backed Nathabit, Premonition Ventures-backed The Ayurveda Business, and also Tip Ventures-backed Kapiva.Nathabit has supposedly intercrossed an annualised revenue cost of Rs one hundred crore in FY24, while Kapiva mentioned Rs 114 crore in operating revenue in FY23.
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