Honasa Consumer enters into high performer cosmetics

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.

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

The company is looking to capture 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 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.''