The out of the container approach has forever been the primary cause for the progress of SUGAR Cosmetics.
In the recent achievement, Sugar Cosmetics has raised $50 million driven by L Catterton with interest from existing financial backers A91 Partners, Elevation Capital, and India Quotient and it is all over the news.
A 21.6% upgrade in all-out revenue in FY21 was revealed by SUGAR cosmetics.
L Catterton shares our ethos of truly understanding what matters most to consumers, and my co-founder Kaushik (Mukherjee) and I are thrilled to welcome the firm as our partner,”~ SUGAR co-founder Vineeta Singh
Reports revealed that after the investment, L Catterton Asia’s overseeing chief Anjana Sasidharan will join the organization’s leading group of the head. A lot is coming from this partnership in the upcoming days.
Let’s Know SUGAR From Deeper
SUGAR was founded in 2012 by spouse-wife pair Vineeta Singh and Kaushik Mukherjee.
The brand has strongly scaled its retail presence in excess of 100 urban areas in the country.
SUGAR has shown immense growth through the inventive thought of working together with social media influencers, who helped them scale thoroughly.
SUGAR Cosmetics was brought into the world from a longing to overcome any issues between giving elite nature of various beauty care products and cosmetics colors that suit Indian complexions.
The point was to give a more viable and reasonable reach to the people of the country keeping in mind their skin tones.
“Content, which has been our big spinner from day one, was our core focus. We wanted to ensure that at least by the end of May we would have some revenues to ensure working capital” ~ Vineeta Singh
Content will continue to be a big push for us. We saw how it helped us during the pandemic. We aim to build a brand with great influencer and social media marketing. We are on track in terms of online sales and should get revenues of Rs 150 crore in annualized sales she added.
During covid times the app was launched and it helped the group to go on in the commitment with clients which proved to be so helpful for them.
A Promising Partnership Leading To A Promising Tomorrow
L Catterton’s is great in building notorious shopper brands across the world and it will enable Sugar to leave on its next phase of development in the midst of an extension in India’s magnificence and individual consideration market.
The founders believe that the company’s image-building and worth creation capacities will brace the development as they progress forward with their excursion of enchanting and exceeding expectations on the assumptions for the clients.
They also believe that in FY23 and FY24 the organization could check out additional assets which will give them more exposure.
“We look forward to partnering with the company to thoughtfully unlock international exposure and drive further growth, leveraging our experience of working with over 20 beauty and personal care companies in L Catterton’s portfolio across the Americas, Europe, and Asia,” ~ Anjana Sasidharan, L Catterton Asia managing director.
If we look around SUGAR Cosmetics’ cutthroat gathering it is giving tough competition to the rivals like Nykaa, Purplle, Lakme, Maybelline, Lotus Herbals, Plum, Emami, Marico, Blue Heaven Cosmetics, and NewU.
It presently oversees 70+ outlets all alone, with goals to build that number to 100 by December 2022. Sugar Cosmetics has come up as one of the main Indian cosmetic brands.
The market has extended extensively with the nation’s beauty and individual consideration and it is normal to reach approximately $21 billion in 2025.
People know what they want and where they put their trust. The choices people are making today are done with all trust and knowledge. With several choices around people have become so selective in their preferences. And when it comes to personal care, everyone becomes so extra careful and particular about things and choices.
SUGAR Cosmetics here seems to stand on the trust and expectations of people and offers what people want to have. With all this, there is still a lot to see in the hereafter.