Honasa Consumer enters into colour cosmetics with ‘Staze’

Listed beauty brand Honasa Consumer Ltd, parent of new-age brands like Mamaearth and The Derma Co has forayed into the colour cosmetics space with a new brand 'Staze'. 

The digital-first brand aimed at millennials, which offers skincare, haircare and mother and child care solutions among others, has also expanded its omni-channel presence through Mamaearth's offline stores.

Founded in 2016 by Ghazal Alagh and Varun Alagh, the company acquired BBlunt in 2022 which was started by celebrity hairstylist Adhuna Bhabhani. 

Other brands in its portfolio include Ayuga, Dr. Sheth's and Aqualogica as part of its house of brands.

With the advent into colour cosmetics, the company is seeking to capture untapped potential of the fast growing colour cosmetics industry in the BPC space, it said a statement.

Honasa Consumer Chairman and CEO Varun Alagh said, "With the colour cosmetics segment boasting a remarkable CAGR of 12 per cent 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.”

The hair colour brands available to Indian consumers include Garnier and Streax, apart from new-age semi-permanent options like Paradyes.

India's hair care market is witnessing a surge in demand for natural and Ayurvedic products, driven by a growing preference for organic and chemical-free solutions. In 2024, the Hair Care market in India is projected to generate a revenue of $3.06 billion, as per data research platform Statista.