MPW 2023: Beyond Shark Tank India, Vineeta Singh is focussed solely on expanding SUGAR’s reach

Vineeta Singh is a household name today, a face of entrepreneurship and a champion of women-led businesses, all thanks to Shark Tank India.

However, beyond the spotlight, Singh, alongside her Co-founder and husband Kaushik Mukherjee, is driving SUGAR Cosmetics towards expansive growth in the dynamic beauty landscape. She says the company saw a 90 per cent increase in revenues in financial year 2022-23, totalling Rs 428.4 crore, coupled with a 15 per cent improvement in the bottom line.

What’s the next big goal? Turning profitable, she says. Singh is aiming to ensure that Q3 and Q4 are in the black, riding the wave of festive season demand. Zooming out, the plan is to hit Ebitda break-even by FY24.

“Our aim has always been that once we come close to the Rs 500-crore net revenue mark, we will optimise our marketing and start looking at profitability. From here to the Rs 2,000-crore net revenue zone, we plan to accomplish profitability,” she tells Business Today.

Singh envisions a profitable business with 40-50 per cent annual growth, leading India’s colour cosmetics scene, and elevating international revenue to 10 per cent in the next two years. Amidst the hustle and bustle, she’s clear in her commitment to empowering women. “Currently, 70 per cent of SUGAR’s employee base is women, about 3,000. As the brand grows, that should become 10,000. I have a portfolio of more than 20 firms, thanks to Shark Tank, and 70 per cent of them have at least one woman co-founder. I’m looking forward to investing in at least 20 more via Shark Tank and outside,” she says.