.Agent imageBeauty as well as personal treatment company Honasa Buyer– the parent company of Mamaearth– is actually terminating its ayurvedic appeal brand Ayuga.In a profits presentation on Friday, Honasa Customer stated it could certainly not create a product-market fit and also started sunsetting the company coming from June this year.Following the discontinuation of Ayuga, Honasa Consumer are going to have 6 brand names in its portfolio– Mamaearth, its own largest brand, The Derma Co, Aqualogica, Dr Sheth’s, BBlunt, and Staze, under which the provider markets colour cosmetics products.Honasa Consumer stated a 19% year-on-year increase in operating profits for the April-June time period to Rs 554 crore, while net revenue increased 62% on year to Rs 40 crore.In the discussion, Honasa pointed out Ayuga was actually released to launch ayurvedic charm items in contemporary formats for Indian millennials back in December 2021. The company was actually spruced up two years later, based on individual reviews, it added.However, the company failed to receive any footing despite the improvements. Ayuga was an online simply brand.Other new-age brand names in the ayurveda-focused charm and personal treatment area consist of Top XV Partners and Fireplace Ventures-backed Nathabit, Sixth Sense Ventures-backed The Ayurveda Company, as well as Tip Ventures-backed Kapiva.Nathabit has supposedly intercrossed an annualised revenue rate of Rs one hundred crore in FY24, while Kapiva disclosed Rs 114 crore in operating revenue in FY23.
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