Honasa Consumer enters colour cosmetics space with new brand 'Staze'

Honasa Consumer, which owns FMCG brands such as Mamaearth and The Derma Co, announced its entry into the colour cosmetics space with a new brand 'Staze'.

The company is looking to capture the untapped potential of the fast-growing colour cosmetics industry in the BPC space, said a statement.

Honasa Consumer Chairman and CEO Varun Alagh said, "With the colour cosmetics segment boasting a remarkable CAGR of 12% and a substantial size of Rs 15,000 crore, it became evident that there was a gap in the market.

"These factors paved the way for Staze, which represents a strategic move for Honasa's unique house of brand strategy to enter the colour cosmetics market."