Ranveer Singh invests in Shark Tank entrepreneur Vineeta Singh’s SUGAR Cosmetics
Gully Boy actor Ranveer Singh has invested in a startup for the first time with D2C – Direct to Consumer company SUGAR Cosmetics. Let us tell you, it’s the brand co-founded by Vineeta Singh who appeared in SONY TV’s business reality show ‘Shark Tank India S1”. Her company announced the collaboration with Ranveer today. However, they haven’t revealed any details about the investment amount.
In 2015, SUGAR cosmetics was started as a D2C brand which later entered into offline trade as well in the year 2017. The company makes annual sales of about rupees 550 crores at present. They have a retail exposure of around 45.,000 physical stores all over India besides virtual selling.
Talking about his collaboration with the organization, Ranveer Singh said, “I was always impressed by SUGAR’s capability to create a huge fanbase in these years. This raises my excitement to take part in their journey and help the brand in its goal of offering great quality makeup products to Indian females. All their products have their special formula for women.”
The company grossed $50 million in June through series D funding helmed by the Asia fund of L Catterton. It saw the participation of some current investors: Elevation Capital, India Quotient and A91 Partners.
According to estimations, the fresh investment from Ranveer will increase SuGAR’s growth in markets with interested consumers.
Vineeta Singh, Co-founder, and CEO, of SUGAR Cosmetics, said, “SUGAR is a makeup of choice for bold, independent females who strongly oppose getting stereotyped into characters. If someone who shares the same DNA as ours exists, It’s Ranveer for sure. “
Kaushik Mukherjee, co-founder, and COO. stated, “This will give a speed boost to our growth route as we proceed to expand SUGAR aggressively to make it a huge makeup and beauty brand loved by all.
