The new brand’s target demographic is a cohort of Indian women in the age group of 18-24 segment
New Delhi: Gurugram-based beauty and personal care company Honasa Consumer Ltd., the holding company of Mamaearth, has announced its latest venture called Staze, a colour cosmetics brand, a release by the company said.
“We recognised a vital opportunity to address the burgeoning demand for innovative yet accessible color cosmetics. With the colour cosmetics segment boasting a remarkable compound annual growth rate (CAGR) of 12% and a substantial size of Rs 15,000 crore, it became evident that there was a gap in the market,” said Varun Alagh, chairman, and chief executive officer (CEO), Honasa. “These factors paved the way for Staze which represents a strategic move for Honasa’s unique house of brand strategy to enter the color cosmetics market.”
The brand’s target demographic is a cohort of Indian women in the age group of 18-24 segment. It is created by a coalition of 43 beauty experts worldwide, including product specialists, dermatologists, influencers, and makeup artists, the release added.
The product lineup includes 3-in-1 Bullet Lipstick, offering three distinct shades in one convenient package starting at Rs 449 and many more like this. With an average pricing of less than Rs 300, the brand presents affordable, high-performance color cosmetics, the release added.
The first range by the brand, Staze 9to9, is created with an innovative edge, powered by proprietary C-Lock technology that ensures 12-hour wearability, the release added.
The brand has launched with Hoansa Consumers’ digital-first approach and is available on www.stazebeauty.com along with leading e-commerce platforms Nykaa, Purplle, Amazon, and Flipkart among others.
Founded in 2016, Honasa Consumer Limited went public in 2023 and has built a portfolio of consumer brands like Mamaearth, The Derma Co., Aqualogica, Ayuga and Staze.
At the time of writing the story, Honasa Consumer was trading at Rs 407.5 up by 1.27%
