- ByStartupStory | March 29, 2024
Honasa Consumer Limited, the parent company behind the popular brand Mamaearth, has announced its foray into the vibrant world of color cosmetics with the unveiling of its latest offering, ‘Staze’.
Dubbed as Staze 9to9, the inaugural range is built upon the innovative C-Lock technology, ensuring a remarkable 12-hour wearability. Crafted in collaboration with a coalition of 43 global beauty connoisseurs, including esteemed product specialists, dermatologists, influencers, and makeup artists, the brand aims to revolutionize the cosmetics industry with its fusion of quality and accessibility.
The flagship product of the lineup is the versatile 3-in-1 bullet lipstick, starting at an affordable price point of ₹449. Staze products are readily available for purchase on leading e-commerce platforms such as Nykaa, Purplle, Amazon, and Flipkart, making it easily accessible to beauty enthusiasts across the country.
In a statement, Varun Alagh, Chairman and CEO of Honasa Consumer, expressed his excitement about this strategic move into the color cosmetics segment. He stated, “We recognized a vital opportunity to address the burgeoning demand for innovative yet accessible color cosmetics. And with the color cosmetics segment boasting a remarkable CAGR of 12 per cent and a substantial size of ₹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 color cosmetics market.”
Following the announcement, Honasa Consumer stock closed at ₹403 on Thursday’s trade, marking a notable increase of 1.84 per cent on the NSE.
