SUGAR Cosmetics entered the Indian market in mid-2015 to enable women to explore and relish the matchless beauty products exclusively recommended by beauty connoisseurs. At that time, the Indian beauty industry was dominated by multinational brands of which only few actually had a range that suited the Indian complexion and skin tone.
In 2019, SUGAR Cosmetics received 75 crore in Series B funding from marquee investors such as A91 Partners and India Quotient. Then, in 2021, it received a 153 crore ($21 million) Series C funding round led by Elevation Capital (formerly, SAIF Partners), with existing investors A91 Partners, India Quotient and Stride Ventures.
Besides a massive online presence through its own website and app as well as e-marketplaces, The brand is present at 30,000+ retail touchpoints across 130+ cities pan India through exclusive brand outlets, brand-owned kiosks and large-format retailers. The company scaled net revenues to almost twice as much, from over 57 crore in FY19 to over 105 crore in FY20, at an 85% year-on-year growth rate.
SUGAR’s customer base has also grown exponentially over the years. Today, it has a digital fan base of over 5 million customers besides a strong retail customer base across the country and internationally.