- SUGAR Cosmetics is scaling its physical presence with 40,000+ retail outlets across 550+ cities.
- Creating the perfect product, Educating young women digitally, Being available at online & offline stores- SUGAR’s 3-step Manual.
- “Will never stop being an affordable luxury brand” – Vineeta Singh, CEO & co-founder, SUGAR Cosmetics.
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SUGAR Cosmetics is built around young Indian Women. It plans to expand to over 60,000 retail outlets in India. In terms of awareness, it will be marking its presence in Tier 2, Tier 3 cities. The company will be investing in brand building both on television as well as through digital content. SUGAR claims that 90% of its consumers continue to discover the company digitally.
Sugar Cosmetics does have big plans, from foraying overseas to an IPO on Dalal Street next year.
“I think good or bad markets, good companies do well. Don’t think we have ever raised money for an unfair valuation and I feel that markets respect that.” Vineeta Singh says while shedding light on the topic of listing during the current market correction and SUGAR’s path to profitability.
“The idea is to double in the next 12 months and then push for profitability in FY24 before we start planning our IPO” she added.
As women entrepreneurs are breaking the glass ceiling, SUGAR Cosmetics welcomes a new boss lady to its board. With this fundraise Anjana Sasidharan, L Catterton Asia Managing Director will be joining the company’s board.
Decoding the guide to a successful beauty company Vineeta Singh unveils her 3-step manual saying “1. Creating the perfect product for young women, 2. Educating them digitally and 3. Being available at the store closest to them as well as on every E-Commerce platform is the game plan.”
But with the kind of inflation at hand, is sugar cosmetic planning to pass the price hikes to consumers? The co-founder seemed rather optimistic saying “SUGAR hasn’t changed any prices yet & has no intention to revise any prices either. Currently, SUGAR is not facing as many inflationary pressures yet.”