Beauty is for everyone, However, not everyone has the ability to recognize what today’s millennials require – and that includes seeing makeup as more than a product..
– VINEETA SINGH SUGAR CEO VINEETA SINGH
Rome wasn’t built in one day It has taken 742 Make Up Artists, 16 Supervisors, 46 Sales Managers, 80 of us in office and another 60 in the warehouse to get us to these 650 doors where SUGAR has dedicated counters. After turning down a preplacement offer of Rs.1 crore from Deutsche Bank, Vineeta went on to embrace the startup life, setting an example for not only her classmates, but also for an entire generation of entrepreneurs facing a similar issue at the time. Redefining beauty for Indian Millennials, Vineeta Singh co-founded SUGAR Cosmetics in 2015, with the goal of catering to the new age millennial woman who wears cosmetics on a daily basis rather than just for special events. The entire line was created with the Indian consumer in mind, with the goal of lasting longer, being weather resistant, and being ideal for the tropical region. Singh established SUGAR as a digital first brand, and has built strong relationships with consumers through engaging content over the years. SUGAR has developed itself in the cosmetics business in just six years, surpassing the Rs.100 crore revenue mark in 2020, despite stiff competition from established brands. Their bold bet on increasing their retail base, persistent focus on social media, and preparation for the holiday season have helped them regain their footing. Despite the challenges, they were able to secure $2 million in debt capital from Stride Ventures in early 2021.
Nothing can stop this brand from continuing to take on obstacles and turning them into stepping stones! Written by, Swetha Sharma