.Rep imageBeauty and also individual care provider Honasa Individual– the parent entity of Mamaearth– is actually stopping its ayurvedic appeal company Ayuga.In an earnings discussion on Friday, Honasa Consumer claimed it could possibly not develop a product-market fit and also started sunsetting the brand coming from June this year.Following the discontinuation of Ayuga, Honasa Individual will have 6 labels in its collection– Mamaearth, its biggest brand, The Derma Co, Aqualogica, Dr Sheth’s, BBlunt, and also Staze, under which the provider sells colour cosmetics products.Honasa Customer disclosed a 19% year-on-year increase in operating revenue for the April-June time period to Rs 554 crore, while net income climbed 62% on year to Rs 40 crore.In the presentation, Honasa pointed out Ayuga was introduced to launch ayurvedic beauty products in present day styles for Indian millennials back in December 2021. The brand name was actually overhauled pair of years later, based on buyer feedback, it added.However, the label stopped working to acquire any type of grip in spite of the adjustments. Ayuga was actually an online only brand.Other new-age labels in the ayurveda-focused charm and private treatment space include Height XV Allies and Fireplace Ventures-backed Nathabit, Intuitiveness Ventures-backed The Ayurveda Company, as well as Vertex Ventures-backed Kapiva.Nathabit has reportedly intercrossed an annualised earnings price of Rs one hundred crore in FY24, while Kapiva reported Rs 114 crore in operating revenue in FY23.
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