Today who else doesn’t want a crore rupees job package in a multinational company, lavish life, future job security, and foreign trips but this prestigious opportunity was refused by Sugar Cosmetics CEO and founder Vineeta Singh at the age of 23. And decided to set up a venture worth Rs 1 crore and proved that a woman is a multitasker, and she is not even a house manager but also can maintain a business empire.
How She Inspired
At the age of 23, Vineeta and her life partner Kaushik Mukherjee 2012 started an e-commerce company Fab Bag, a monthly makeup and beauty subscription platform for women.
Still, in 2015 they decided to focus only on cosmetic products because when they were running Fab Bag, they realized that some core customers consisted of young millennial women who make up a lot. So they decided they would make those products that make them unstoppable.
Those products will not show them just a celebrity look but a real and common woman look. But she was inspired from a very early age when she was only 10 years she made a magazine with the help of her friend and decided to sell it for Rs.3 from door to door. At that time, she realized that selling a thing is not easy, whether Rs.3 or more.
How She Got Funds and Investment
In 2012, Vineeta and her partner saw a great opportunity in e-commerce beauty and personal care. Still, the problem was reliability women wanted to go into the shop and learn how to use it, and they were copying the celebrities and using those cosmetics which were not even suited to them.
So Vineeta and her partner Kaushik Mukherjee decided to find out the requirements and make those cosmetics that every age woman can wear all day. These products give confidence to women and make them unstoppable.
Because of the rejection of many investors, she decided she would start her e-commerce business by herself from a previous company (FabBag) and started with worth rs.1 crore and made strong, high-quality cosmetics.
What is Sugar Cosmetics, and how was it raised from 2012 to 2021?
Like other biggest brands like Lakme, L’oreal, and other beauty brands, Sugar also took its place and hit the top. Sugar has now approx 2500 physical stores and its shopping application. Not even in India but also in the US, Germany, and Russia has distributors.
Now this company is worth rs. 700 crore significantly raised during its valuation during a pandemic by social media marketing.
It raised 60% during the pandemic situation 1.0 in June approx 6 crore rupee. Sugar spread 2,500 plus outlets over 130 cities across India. Sugar is an e-commerce platform where different types and high-quality cosmetics can buy online.
Sugar does not rise suddenly, and it has a long gap from 2012 to 2020, and it does not have a one-night success story. It had faced many failures, sometimes from investors and sometimes from customers, but Vineeta had a big vision.
She didn’t stop running like she ran a marathon that the same strategy she followed in her business strategies proved herself in front of her competitors.
Read More : How Nykaa becomes Successful Billion Dollar Beauty Product Brand
