NEW DELHI: Bollywood actor Ranveer Singh has invested in homegrown beauty company Sugar Cosmetics.
Singh’s investment comes after the company that started out in 2015 as a direct-to-consumer beauty brand raised $50 million in Series D in June, led by L Catterton and existing investors A91 Partners, Elevation Capital and India Quotient.
Singh will be the brand evangelist and build a brand connect across key markets, the company said in a statement. The partnership will help the brand “create new pathways for customer acquisition", especially with the Gen Z and millennial audiences in India. With the investment, Sugar will eye expansion in other potential markets.
“We are delighted to have Ranveer on board as we look forward to reinforcing our brand connect with consumers. He is undoubtedly one of the most popular youth icons in the country and his unstoppable and clutter-breaking personality fits very well with the brand ethos of Sugar. This will help supercharge our growth trajectory as we continue scaling Sugar aggressively to build it into a large and much-loved makeup & beauty brand," said Kaushik Mukherjee, co-founder and COO, Sugar Cosmetics.
Sugar clocks annual sales of over ₹550 crore with a physical presence across 45,000 retail touch points in more than 550 cities. It sells a range of coloured cosmetics such as lip colours and eye makeup both online as well as offline.
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Published: 03 Sep 2022, 12:47 PM IST
Certainly! Ranveer Singh's investment in Sugar Cosmetics showcases an interesting move within the beauty industry, highlighting the brand's strategic direction to leverage Singh's popularity among the youth in India. This partnership aims to enhance Sugar's market presence and consumer engagement, particularly targeting Gen Z and millennial demographics.
Now, breaking down the concepts in the article:
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Investment: Ranveer Singh has made an investment in Sugar Cosmetics. Investments like these aren't just about financial backing; they often include a strategic partnership where the investor may play a role in brand promotion, product development, or market expansion.
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Series D Funding: Sugar Cosmetics recently secured $50 million in Series D funding. This is typically a later stage of funding for startups, indicating that the company has already gone through several rounds of funding and is likely looking to expand, enter new markets, or strengthen its current market presence.
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Brand Evangelist: Singh will be the brand evangelist for Sugar Cosmetics. In marketing, a brand evangelist is someone, usually a well-known figure, who passionately promotes and advocates for a brand. This move signifies the company's intent to capitalize on Singh's popularity to strengthen its brand image.
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Consumer Acquisition: The partnership aims to create new pathways for customer acquisition, specifically targeting Gen Z and millennial audiences in India. This indicates a focus on expanding the customer base through tailored strategies for these demographics.
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Expansion into New Markets: With Singh's investment, Sugar Cosmetics intends to expand into other potential markets. This expansion could involve geographical diversification, tapping into new consumer segments, or exploring international markets beyond India.
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Company Overview: Sugar Cosmetics is a direct-to-consumer beauty brand founded in 2015. It boasts an annual sales figure of over ₹550 crore and has a significant physical presence, spanning 45,000 retail touchpoints across more than 550 cities. The brand sells a variety of colored cosmetics, including lip colors and eye makeup, both online and offline.
Understanding these concepts gives a comprehensive view of how Sugar Cosmetics is strategically positioning itself in the beauty market, utilizing Ranveer Singh's influence to fuel its growth and market penetration strategies.
FAQs
The financial details of the investment were not disclosed. Singh's announcement comes close on the $50 million series D funds raised by the company in June this year.
Who invested in Sugar Cosmetics? ›
Sugar Cosmetics – Funding and Investors
| DATE | ROUND | LEAD INVESTORS |
|---|
| Sep 3, 2022 | Angel Round | Ranveer Singh |
| May 30, 2022 | Series D | L Catterton |
| Oct 21, 2020 | Debt Financing | Stride Ventures |
| Oct 21, 2020 | Series C | A91 Partners, Elevation Capital, India Quotient, Stride Ventures |
2 more rowsApr 12, 2024
Vineeta Singh, founder and CEO of Sugar Cosmetics, has been a a beacon of inspiration, particularly for aspiring entrepreneurs, especially women, across India and beyond. However, her remarkable story began long before her ascent to prominence in the world of vibrant makeup and booming business.
Who are the investors in sugar? ›
SUGAR Cosmetics has 11 institutional investors including India Quotient, Elevation Capital and RB Investments. A91 Partners is the largest institutional investor in SUGAR Cosmetics. Peyush Bansal and 20 others are Angel Investors in SUGAR Cosmetics.
Who is the CEO of Sugar Cosmetics acting? ›
Vineeta Singh (born 1983) is an Indian entrepreneur and CEO and co-founder of Sugar Cosmetics. She has been a Shark (i.e. judge/investor) on the business reality TV show Shark Tank India since the show started airing on SonyLIV in 2021.
How much is sugar CEO worth in rupees? ›
Vineeta, a entrepreneur, holds a net worth of approximately Rs 300 crore. She, along with her husband Kaushik Mukherjee, founded Sugar Cosmetics in 2015, which is now valued at around Rs 4,100 crores, as per reports. Meet Shark Vineeta Singh, Co-Founder and CEO of SUGAR Cosmetics!
Is Kareena Kapoor co founder of Sugar Cosmetics? ›
Indian Bollywood actor Kareena Kapoor Khan has made a strategic investment, becoming a co-owner with the co-founders of Sugar Cosmetics, Vineeta Singh and Kaushik Mukherjee, to launch a Korean skincare brand, Quench Botanics.
How much is Vineeta Singh worth? ›
Vineeta Singh – Rs 300 crore
Vineeta Singh, the CEO of Sugar Cosmetics, brings her entrepreneurial flair and a net worth of Rs 300 crore to Shark Tank.
Is Sugar Cosmetics successful? ›
Sugar Cosmetics, a beauty and personal care business has reached the point of profitability. Since its inception, it was in December 2023 that the company turned profitable. As of now, in the year 2024, Sugar has already crossed the Rs 500 crore revenue mark.
How big is Sugar Cosmetics? ›
Cosmetics' sales inched closer to INR 500 Cr mark in the financial year ending on March 31, 2023. The startup reported an operating revenue of INR 420.2 Cr in FY23, an 89% increase from INR 221.8 Cr it had generated in the previous fiscal year.
Sugar Cosmetics Net Worth in 2023: Key Highlights and Trends
According to a report byFinancial Express, Sugar Cosmetics' founder Kaushik Mukherjees current net worth is INR 4,000 crore, while Vineeta Singhs Net Worth is INR 300 crore. Sugar's Net Worth is INR 300 crore.
Which country made Sugar Cosmetics? ›
SUGAR Cosmetics is a leading Indian cosmetics brand known for its high-quality, affordable products. The company was founded in 2012 by Vineeta Singh and Kaushik Mukherjee, who have both faced their fair share of struggles on their journey to success.
What family owns US sugar? ›
Today, the company is owned primarily by its employees and charitable foundations set up by Charles Stewart Mott—The C. S. Mott Foundation and The Mott Children's Health Center.
What is the biggest sugar company in the world? ›
Südzucker AG is a German company and the largest sugar producer in the world. In July 2023, it had a total market capitalization of more than $3 billion, with an annual production of around 4.8 million tons of sugar.
What is the biggest sugar company in the US? ›
Which companies are the largest players in the Sugar Processing industry in the US? Top companies in the Sugar Processing industry in the US, based on the revenue generated within the industry, includes Florida Crystals Corporation, American Crystal Sugar Company and Louis Dreyfus Co B.V..
How much vineeta owns in Sugar Cosmetics? ›
Vineeta Singh's Stakes In Sugar Cosmetics
Vineeta and her husband Kaushik have equal shares in their company, Sugar Cosmetics, which is around 16.55% each. The couple lives in a lovely house in Powai, where prices are as high as 75,000 per square foot.
What is the net worth profit of Sugar Cosmetics? ›
Vineeta Singh, Co-Founder & CEO, Sugar Cosmetics, says “We have already crossed Rs 500 crore revenue in FY24 and we are expecting to close FY24 at a 500 plus crore net revenue. ”
What is the revenue of Sugar Cosmetics in India? ›
Omnichannel beauty retailer Sugar Cosmetics reported an 89% year-on-year rise in its revenue from operations for FY23 to Rs 420 crore, even as its net loss remained flat around Rs 76 crore.
