Not sure if I got the whole story, but how about:

package mypackage;

my $color_hash = {
      red => 'Red'
    , brick => 'Red'
    , maroon => 'Red
    , etc ....
};

sub new {
    my ($class, %args) = @_;
    my $self = bless {}, $class;
    $self->{provider} = $args{provider};
    $self->{color} = $color_hash->{lc($args{color})} || '';
    return self;
}
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