Beauty is more than skin deep!

And the evidence lies in how premium beauty brand SUGAR has
established a Rs 100 crore business in a short span of seven years.At a time when the market was
dominated by major players like Lakmé, L’Oréal and MAC Cosmetics, IIM Ahmedabad alumni
Vineeta Singh and Kaushik Mukherjee found the beauty brand SUGAR in 2012. “We realised
there was a gap in the range of prices offered by the brands. Lipsticks were priced at either Rs
150 or Rs 1400. We introduced SUGAR lipsticks with a mid-range of Rs 500 to Rs 600,” recalls
Mukherjee.

SUGAR products are available on its website and other online platforms like Nykaa and
Amazon. Mukherjee informs, “When we introduced our first offline retail with Lifestyle in
Hyderabad, we used the database of our online customers to invite them to visit the store. To not
use data for your business in today’s age is the most stupid thing.” The launch was a major hit
and today SUGAR boasts of its presence in 195 outlets in India.

With a team of 100-115 people, SUGAR has achieved an impressive growth. But there is no
stopping for this young warrior. “In the next 10 years, we want to grow 20 times and aspire to
become a Rs 1000 crore business,” he beamingly mentions. 

SUGAR does not have a brand ambassador as the brand defies the idea of selling ‘an ideal
beauty’ with its products. In its early days, it did collaborate with Instagram and YouTube
influencers to create a buzz for its products among millennials as well as urban Indian women.
“This strategy saved a lot of money and has been effective,” shares Mukherjee.

The company received a funding of Rs 70 crore from venture capital firm A91 expand its offline
presence through multi-brand retail and exclusive outlets.

As Sweet As It Gets

In terms of packaging, a distinct look was created for Sugar using the triangulated illustration
stylewith the quirkiness to appeal to a younger demographic.

 10 per cent of Sugar’s revenue is generated from international market, 45 per cent from
online and 45 per cent from retail.
 Jet black matte eye liner is one of its bestselling products.
 All Sugar products are made in six countries, namely, Germany, Italy, the USA, Korea,
China and India.