.Representative imageBeauty and also private treatment company Honasa Buyer– the moms and dad company of Mamaearth– is actually discontinuing its own ayurvedic beauty brand name Ayuga.In a revenues presentation on Friday, Honasa Consumer claimed it might not create a product-market match and started sunsetting the brand from June this year.Following the discontinuation of Ayuga, Honasa Individual will have 6 brand names in its portfolio– Mamaearth, its biggest company, The Derma Carbon Monoxide, Aqualogica, Dr Sheth’s, BBlunt, and also Staze, under which the provider offers colour cosmetics products.Honasa Consumer mentioned a 19% year-on-year rise in operating revenue for the April-June duration to Rs 554 crore, while net income climbed 62% on year to Rs 40 crore.In the discussion, Honasa mentioned Ayuga was launched to offer ayurvedic beauty items in present day formats for Indian millennials back in December 2021. The brand name was overhauled 2 years later on, based on individual responses, it added.However, the brand name fell short to acquire any traction even with the modifications. Ayuga was an online simply brand.Other new-age brand names in the ayurveda-focused elegance and private care room include Optimal XV Partners as well as Fireside Ventures-backed Nathabit, Sixth Sense Ventures-backed The Ayurveda Provider, and also Vertex Ventures-backed Kapiva.Nathabit has reportedly crossed an annualised income price of Rs one hundred crore in FY24, while Kapiva stated Rs 114 crore in operating revenue in FY23.
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