.Representative imageBeauty and also individual treatment company Honasa Consumer– the moms and dad facility of Mamaearth– is terminating its own ayurvedic appeal company Ayuga.In an earnings discussion on Friday, Honasa Buyer claimed it could certainly not create a product-market fit and also began sunsetting the brand coming from June this year.Following the ending of Ayuga, Honasa Customer will certainly possess 6 companies in its own portfolio– Mamaearth, its own most extensive brand, The Derma Carbon Monoxide, Aqualogica, Dr Sheth’s, BBlunt, and also Staze, under which the provider offers colour cosmetics products.Honasa Consumer disclosed a 19% year-on-year increase in operating revenue for the April-June time period to Rs 554 crore, while net earnings climbed 62% on year to Rs 40 crore.In the discussion, Honasa said Ayuga was actually introduced to introduce ayurvedic appeal items in modern styles for Indian millennials back in December 2021. The brand was actually revamped 2 years eventually, based upon individual responses, it added.However, the brand name failed to acquire any sort of grip in spite of the adjustments. Ayuga was actually an online merely brand.Other new-age brand names in the ayurveda-focused elegance and also individual treatment area feature Peak XV Partners and Fireplace Ventures-backed Nathabit, Second Sight Ventures-backed The Ayurveda Firm, and Tip Ventures-backed Kapiva.Nathabit has actually reportedly intercrossed an annualised earnings fee of Rs 100 crore in FY24, while Kapiva reported Rs 114 crore in operating profits in FY23.
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