SUGAR Cosmetics
SUGAR Beauty care products is an Indian online business organization, established by Vineeta Singh (Fellow benefactor and President) and Kaushik Mukherjee (Prime supporter and COO) in 2015, with its central command in Mumbai. It centers around selling cosmetics and skincare items that are millennial agreeable, the most appropriate for Indian complexions and are sans remorselessness. Nonetheless, not their items are all 100 percent vegetarian. Their items are produced in cutting edge offices across numerous nations like Germany, Italy, USA, India , and so on and are sold across sites, portable applications and disconnected stores.[1] SUGAR has an omni-channel appropriation organization of around 10,000 retail outlets across 130 urban communities. It is one of the main 4 corrective brands concerning circulation to deals. Concerning SUGAR's production network, they have a tremendous presence across retail locations including independent and commercial centers alongside D2C channel delivering straightforwardly to purchasers in 18000+ pincodes all over India.[2]
History
Vineeta Singh, a graduated class of IIM Ahmedabad and IIT Madras, was energetic about building a customer business for ladies. She turned down a 1cr venture banking position, while her better half, Kaushik Mukherjee — a Pieces Pilani and IIT Ahmedabad, left his McKinsey and Co to join Singh. Thus, in the year 2012, she began Fab Pack, a membership based business that offered ladies a collection of excellence items consistently for a little expense. Throughout 9years, the business amassed around 200,000 clients. Notwithstanding, a dunk in deals and information demonstrated that a ton of clients talked about the way that cosmetics marks that were accessible — unfamiliar or neighborhood — didn't take special care of Indian complexions or the Indian lifestyle. Furthermore, with that idea, SUGAR was born.[3]
SUGAR Beauty care products was established on three support points: paying attention to customers, avoiding limiting and zeroing in on satisfied for buyers. In a market overwhelmed by magnificence goliaths like Lakme, Loreal, Maybelline, and so on. SUGAR is one of the primary Indian organizations that spotlights on inclusivity. With a speedy completion time concerning item improvement, estimating, and virtual entertainment commitment, the brand is consistently turning into a go-to for young ladies.
Fundraising
In 2016-17, they figured out how to raise $2.5Mn a Series A subsidizing round from R B Adventures and IndiaQuotient. They then, at that point, wandered into retail with around 87 general exchange touchpoints across India.[4]
In 2017-18, they sent off their most memorable elite brand outlet in Kolkata alongside a couple of booths in significant shopping centers the nation over. They saw an increment of up to 25% revenue.[5]
In 2018-19, the team brought one more $10Mn up in a Series B financing round from A91 Accomplices and IndiaQuotient. Their item portfolio came to 250+ SKUs and retail presence extended to 700+ outlets.
In 2019-20, their retail presence further scaled to arrive at 1750 retail touchpoints, highlighted in top 4 corrective brands as far as deals commitment in corporate store like Way of life, Wellbeing and Gleam, and Customer Stop. With an expected Rs.130 crore income for FY21, the brand has hit a yearly run pace of Rs.500 crore as of November 2021. With in excess of 1,000,000 application downloads on iOS and Android and 2.1M+ Instagram adherents, the brand has additionally set up retail contact focuses in 35,000+ outlets, and brought $21 million up in series C financing in mid 2021 drove by Height Capital, previously SAIF Partners.[6]
Grants and acknowledgment
● Vineeta Singh was one of the champs at ET 40 under 40 rundown ● CNBC TV18 Most believed brand of the year Grant to SUGAR Beauty care products ● Vineeta Singh was one of the victors at Fortune 40 under 40[7] ● Vogue Excellence Grants for SUGAR Beauty care products Eye Cautioned You So! Twofold Matte Eyeliner[8] ● Business visionary Honors 2019-Retail Start-up Of The Year ● Star Retail Grants 2019-Debutant Retailer Of The Year ● ET Most Encouraging Brand Of The Year - 2019 ● Vellvette Way of life Pvt. Ltd. as the victor of the 31st Intonation Grants for Best Inventory network Methodology and Plan - Beauty care products Class - 2021
References
- ↑ Das, Debomitra. "Exclusive: Meet the IIM Alumnus who turned down a Rs. 1 Cr job to start her cosmetic empire - Times of India". The Times of India. Times of India. Retrieved 30 May 2022.
- ↑ Narayan, Vishvas (13 May 2022). "SUGAR Cosmetics to Expand Offline Presence to Over 60,000 Stores". TechStory. Retrieved 30 May 2022.
- ↑ Sanchita, Dash. "The founder of SUGAR cosmetics explains how the startup clocked a 60% growth in sales during the pandemic". Business Insider. Retrieved 30 May 2022.
- ↑ "Series A - SUGAR Cosmetics - 2017-06-01 - Crunchbase Funding Round Profile". Crunchbase.
- ↑ Bureau, Indiaretailing (12 February 2019). "SUGAR Cosmetics launches first EBO in Kolkata". Indiaretailing.com.
- ↑ Bhatla, Prabhjeet. "Beauty Brand SUGAR Cosmetics Raises $21 Mn In Series C Funding Round Led By Elevation Capital". Entrepreneur.
- ↑ "Vineeta Singh, Kaushik Mukherjee - India's Young & Brightest Entrepreneurs in 40 Under 40 2021 - Fortune India". www.fortuneindia.com.
- ↑ [SUGAR Cosmetics is slowly making its way into millennials’ make-up kits; Lakmé, L’Oreal watch out! [https://economictimes.indiatimes.com/prime/consumer/sugar-cosmetics-is-slowly-making-its-way-into-millennials-make-up-kits-lakm-loreal-watch-out/primearticleshow/78646786.cms SUGAR Cosmetics is slowly making its way into millennials’ make-up kits; Lakmé, L’Oreal watch out!]]. Retrieved 30 May 2022.
Forbes India - Vineeta Singh: Sugar Cosmetics, And The Passion For The Impossible
