SUGAR Cosmetics Aims to Double Revenue in 12 Months

As of this year, the brand's products sell in 40,000+ stores with an aim to be present in 100,000 stores by end of this financial year.
SUGAR Cosmetics Aims to Double Revenue in 12 Months

SUGAR Cosmetics, one of India’s largest omnichannel beauty companies and a cult favorite amongst Gen Z and Millennial consumers, has marked its 7th year anniversary on a strong foot following tremendous growth in the past year. 

The brand stands at a current annualized revenue run rate of Rs 550 crore and is in line to double down the company’s revenue in the next 12 months. The company is amongst the Top 3 color cosmetics brands in India and targets to be number one in this space. 

As of this year, the brand’s products sell in 40,000+ stores with an aim to be present in 100,000 stores by the end of this financial year. Currently, 60 percent of SUGAR’s sales come from its retail stores across the length and breadth of the country as compared to a pre-pandemic 35 percent. However, the majority of the product and brand discovery happens online. SUGAR Cosmetics’ D2C online presence has also seen commendable growth. 

The brand-owned app has garnered over 4 million downloads, shipping to more than 20,000 unique pin codes solely through the App. SUGAR’s social media platforms ace active engagement from their fans and followers, reaching more than 48 billion women, as just on Instagram the brand crosses 2.2 million+ followers making it one of the top beauty brands in India to get that to the level of reach.

Vineeta Singh, Co-Founder, and CEO of SUGAR Cosmetics said, “We are extremely humbled by the outpour of love and support we have received over the years as SUGAR Cosmetics turns 7. It has taken a lot of resilience, hard work, and a solid team that didn’t shy away from taking risks to get to this point. We’ve had many ups and downs along the way, but we have always considered the failures as learnings and grown from there. The coming year is very crucial for our brand, and we plan on exuberant growth across our core pillars –Product, Distribution (Online and Offline), Content, and Community.

More recently, the brand raised $50 million in a round led by L Catterton, a consumer-focused private equity firm. The investment was a part of SUGAR’s Series D round, which witnessed participation from existing investors such as A91 Partners, Elevation Capital, and India Quotient.

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