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Story of SUGAR Cosmetics… From nothing to everything

Intro...

  • SUGAR Cosmetics was founded by IIM graduates Kaushik Mukherjee and Vineeta Singh in India. 
  • It was started as an online brand for women’s cosmetics, Sugar is run by beauty subscription service and ecommerce site Vellvette Lifestyle Pvt Ltd. 
  • Vineeta Singh the Co-Founder and CEO of Sugar Cosmetics, planned to launch her own start-up after completing her graduation course so by the end of her course she rejected a 1 Crore job offer to achieve her goals to launch a beauty brand.

Beginning

  • In 2012, Vineeta Singh and Kaushik Mukherjee started a beauty subscription service FAB BAG. 
  • In an article Vineeta cofounder of the company said, “I always felt strongly about building something with women as the core customer, so when my first startup didn’t scale, I decided to launch a beauty subscription company with my co-founder, Kaushik, in 2012.
  • At a time when the market was dominated by major beauty brands like Lakmé, L’Oréal etc in 2012.
  • The aim of Vineeta Singh was to provide a more compatible and affordable range of beauty products that is suited for the Indian complexion.
  • After conducting research and asking about 200,000 women about their preferences they turned their business to SUGAR Cosmetics, which launched as a direct-to-consumer makeup brand in 2015.

Marketing Strategy

  • Sugar cosmetics defined it’s target market from the beginning.
  • The company’s main focus was on women aged between 20-35 years.
  • Company in its early stages did extensive marketing on social media targeting the women’s needs.
  • Sugar cosmetics created great buzz through Social media like on Insta, Facebook and YouTube.
  • Company also collaborated with Instagram and YouTube influencers in order to create craze and hype for its products which gave back a great result in its early years

Growth

  • In 2015, Sugar Cosmetics provided only a limited range of beauty products like Crayon Lipsticks, Vivid Lipsticks, Matte Eyeliner, and Kajal making its way through online marketing.
  • Due to the quality of products like it’s long lasting makeup with shades that suits Indian skin tones very well, it started getting recognised on Social media platforms and earned way more popularity because of getting positive reviews on the platforms from its users.
  • In 2016-17, the company’s annual net Revenue was Rs 3 Crore initially.
  • Within a few years, The company scaled up its operations 5.6X, with its hybrid online-offline sale.
  • Sugar Cosmetics Revenue from operations grew 82% from Rs 57.14 crore in FY19 to nearly Rs 104 crore in FY20.
  • In FY20, around 15% of the company’s total sales i.e Rs 16 crore came from international buyers.
  • Now Company’s app has over 1 million downloads and around 1.7 millions of Instagram page followers.
  • The company also has offline retail stores across 130+ cities in India.
  • In FY21, Sugar Cosmetics generated revenue over Rs130 crore.
  • The company currently offers over 550 products in makeup and skincare verticals

A walk through the history of SUGAR COSMETICS

 

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2012

 Vineeta Singh and Kaushik Mukherjee started a beauty subscription service FAB BAG.

2015

After market research they launched a direct-to-consumer makeup brand SUGAR Cosmetics

2018

The company scaled up its operations 5.6X, with its hybrid online-offline sale.

 

2021

Sugar Cosmetics generated revenue over Rs130 crore

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