MPW Repeat Winners: Vineeta Singh and the path towards excellence for SUGAR Cosmetics

After three failed ventures, Vineeta Singh, Co-founder of SUGAR Cosmetics, has carved a unique path in India’s beauty industry. Singh tells BT that the brand’s omnichannel strategy has positioned it among the Top 3 cosmetics firms in India. However, her entrepreneurial journey has been far from smooth.

At 23, Singh turned down a job offer from a multinational bank with a salary of Rs 1 crore, because she wanted to become an entrepreneur, looking to launch a lingerie brand. But funding issues brought that to an end.

After a couple of more failed ventures, Singh and husband Kaushik Mukherjee launched SUGAR Cosmetics in 2015, which quickly found its footing and has since become a top cosmetics brand.

Since its inception, SUGAR has witnessed significant growth. Singh says the company’s revenue surpassed Rs 500 crore in FY23 from just Rs 3 crore in FY17, achieving a compound annual growth rate (CAGR) of 60% over the past three years. She credits that to SUGAR’s omnichannel distribution strategy, which has helped secure a presence in over 45,000 retail outlets across 550 cities in India, and helped expand into international markets like the UAE, Russia, and Nepal.

Currently, SUGAR Cosmetics is navigating its transition from a venture capital-funded start-up to a profitable business. Singh says the focus is on narrowing the gap with leading competitors and expanding the company’s Korean skincare brand, Quench Botanics, launched in collaboration with Bollywood star Kareena Kapoor Khan.