Mumbai, 19th July, 2023: SUGAR Cosmetics, India’s leading omnichannel beauty brand and a cult favorite amongst Gen Z and Millennial consumers marked its 8th year anniversary on a high note after experiencing phenomenal growth in the previous year. One of the top three ‘color cosmetics’ brands in India, the business has grown by 90% y-o-y and has a current annualized sales of ~INR 700 crores with eyeing profitability in FY24.
SUGAR Cosmetics’ high quality, cruelty-free and a trending product range of 550+ SKUs such as foundations, highlighters, BB creams, concealers, lipsticks, eyeshadows, bronzers, for varied skin tones, are available in 45,000+ retail outlets across 550+ cities. Crowd puller ‘SUGAR Matte As Hell Crayon Lipstick’ range and irresistible ‘SUGAR Cosmetics La La Love 18HR Liquid Lipstick’ are the hottest selling products across distribution channels.
Most recently, the brand inaugurated its 200th brand-owned store in Bengaluru in a record time i.e. within a year of opening its 100th store. While 90% of the brand discovery happens online, up-to 60% of SUGAR’s sales come from its retail stores across Tier 2 & Tier 3 regions of the nation. SUGAR Cosmetics’ strong digital community of 10 million+ beauty enthusiasts across all platforms get more than two million unique visitors every month. The brand has become the most followed Indian consumer brand on Instagram with its 2.7 million follower community. With 5.6 million app downloads, the brand ships make-up products to beauty enthusiasts over 24,700+ pin codes via the app.
Commenting on this milestone, Vineeta Singh, Co-founder and CEO, SUGAR Cosmetics said, “We started SUGAR Cosmetics with four colors of crayon lipsticks, one eyeliner and one ‘kajal’, we were just trying to create few good products for working women. Eight years later we have over one crore women buying our products every year! I am incredibly grateful to our passionate community of beauty enthusiasts and the wider stakeholder community to believe in our vision. From humble beginnings to becoming a household name, we have thrived on the pillars of innovation, inclusivity, and empowerment. As we look forward to the future with excitement, we remain committed to redefining beauty standards, inspiring confidence, and creating products that empower individuals to express their authentic selves. Cheers to 8 years of beauty, growth, and endless possibilities!”
SUGAR Cosmetics celebrated its 8th anniversary with its customers by hosting a bunch of exciting activities such as the ‘One Minute Raid’, an adrenaline-fueled shopping spree. In this fast-paced event, customers with exclusive access, just had 60 seconds to shop as many SUGAR Cosmetics products as they could.
Making his first start-up investment, Bollywood powerhouse and youth icon Ranveer Singh, invested an undisclosed amount in the brand in Q3 FY 2022. Focused on expanding offline reach to 100,000+ stores by the next fiscal year and a series of product launches, SUGAR Cosmetics looks forward to innovate, inspire, and empower beauty enthusiasts across the globe.
