.Rep imageBeauty as well as personal care company Honasa Customer– the moms and dad facility of Mamaearth– is ceasing its ayurvedic appeal company Ayuga.In an incomes presentation on Friday, Honasa Consumer mentioned it might certainly not develop a product-market fit as well as started sunsetting the label from June this year.Following the ending of Ayuga, Honasa Customer are going to have 6 brand names in its portfolio– Mamaearth, its most extensive brand name, The Derma Co, Aqualogica, Dr Sheth’s, BBlunt, as well as Staze, under which the firm offers colour cosmetics products.Honasa Customer reported a 19% year-on-year rise in operating income for the April-June period to Rs 554 crore, while internet revenue rose 62% on year to Rs 40 crore.In the discussion, Honasa stated Ayuga was actually released to launch ayurvedic beauty items in modern layouts for Indian millennials back in December 2021. The brand name was actually spruced up 2 years later on, based on buyer responses, it added.However, the label neglected to obtain any kind of footing regardless of the modifications. Ayuga was actually an online only brand.Other new-age companies in the ayurveda-focused beauty as well as private care space feature Optimal XV Allies and also Fireside Ventures-backed Nathabit, Intuition Ventures-backed The Ayurveda Firm, and also Tip Ventures-backed Kapiva.Nathabit has reportedly intercrossed an annualised income cost of Rs one hundred crore in FY24, while Kapiva stated Rs 114 crore in operating income in FY23.
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