.Rep imageBeauty as well as individual care firm Honasa Buyer– the parent company of Mamaearth– is actually ceasing its own ayurvedic elegance label Ayuga.In a revenues presentation on Friday, Honasa Consumer claimed it could possibly certainly not develop a product-market fit and also started sunsetting the brand name from June this year.Following the ending of Ayuga, Honasa Individual will definitely have 6 brand names in its collection– Mamaearth, its largest label, The Derma Co, Aqualogica, Dr Sheth’s, BBlunt, and Staze, under which the firm markets colour cosmetics products.Honasa Buyer stated a 19% year-on-year rise in operating revenue for the April-June duration to Rs 554 crore, while web income rose 62% on year to Rs 40 crore.In the discussion, Honasa claimed Ayuga was released to present ayurvedic beauty products in contemporary layouts for Indian millennials back in December 2021. The label was actually overhauled two years later on, based on buyer responses, it added.However, the brand failed to obtain any type of grip regardless of the changes. Ayuga was actually an online merely brand.Other new-age labels in the ayurveda-focused appeal and also private treatment area feature Height XV Allies and Fireside Ventures-backed Nathabit, Premonition Ventures-backed The Ayurveda Business, and Vertex Ventures-backed Kapiva.Nathabit has apparently crossed an annualised revenue rate of Rs 100 crore in FY24, while Kapiva mentioned Rs 114 crore in operating earnings in FY23.
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