NEW YORK — Dana Perfumes is hoping to put some color into its pallid lipstick business.

Earlier this month, Dana started shipping its second entry in the category, a line called Color Performance Lipstick.

The collection consists of eight shades, each imbued with moisturizers and carrying a suggested retail price of $1.99 per tube. Dana first ventured into color cosmetics in the late Forties.

At that time, it extended its Tabu women’s fragrance into a collection of lipsticks with the same name.

But Tabu lip color, at $4.75 a tube, represents only a small fraction of the $545 million lipstick market and is distributed in just 4,000 doors. Color Performance will initially have the same distribution.

The line will be rolled out to Dana’s total distribution of 15,000 doors by the end of the year, according to Elizabeth Cohen, vice president of marketing.

“We are hoping to drive Tabu lipstick sales by expanding our shelf space in stores and offering more variety,” Cohen said.

Company executives are expecting Color Performance to command at least 1 percent of the category, or at least $5 million in sales in its first year.

“We think this brand will do well because of its low price point and because of its moisturizing formula,” Cohen said.