.Representative imageBeauty and individual care business Honasa Customer– the parent body of Mamaearth– is discontinuing its own ayurvedic elegance label Ayuga.In a revenues presentation on Friday, Honasa Buyer mentioned it could possibly not create a product-market fit and also started sunsetting the company from June this year.Following the discontinuation of Ayuga, Honasa Buyer are going to possess 6 labels in its own collection– Mamaearth, its own biggest label, The Derma Carbon Monoxide, Aqualogica, Dr Sheth’s, BBlunt, and Staze, under which the business markets colour cosmetics products.Honasa Consumer disclosed a 19% year-on-year rise in operating profits for the April-June duration to Rs 554 crore, while internet revenue climbed 62% on year to Rs 40 crore.In the presentation, Honasa stated Ayuga was introduced to present ayurvedic charm products in present day layouts for Indian millennials back in December 2021. The brand was renewed 2 years later, based on consumer feedback, it added.However, the brand name neglected to receive any traction regardless of the modifications. Ayuga was an online only brand.Other new-age brand names in the ayurveda-focused elegance and also individual care space consist of Height XV Partners as well as Fireside Ventures-backed Nathabit, Intuitiveness Ventures-backed The Ayurveda Business, and Vertex Ventures-backed Kapiva.Nathabit has apparently crossed an annualised income fee of Rs 100 crore in FY24, while Kapiva mentioned Rs 114 crore in operating income in FY23.
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