SUGAR Cosmetics, one of India’s largest omnichannel beauty companies and a cult favorite among Gen Z and Millennial consumers, today announced Bollywood superstar Ranveer Singh as its newest investor. This partnership between the youth icon and one of the fastest growing premium beauty brands is expected to further solidify SUGAR’s position as a fan favorite and create new avenues for customer acquisition, especially with Gen Z audiences. and millennials in India.
Ranveer Singh makes his first seed investment with SUGAR Cosmetics
Excited about this new partnership, Ranveer Singh added: “Challenging convention is embedded in my DNA and I am proud to partner with a brand that believes in empowering women. I have admired SUGAR’s ability to build a tremendous following over the years and am excited to be a part of this journey and help the brand achieve its mission of providing Indian women with access to premium makeup products. quality specially formulated for them. ”
Commenting on the announcement, Vineeta Singh, Co-Founder and CEO of SUGAR Cosmetics, said: “We are absolutely delighted to welcome Ranveer to the SUGAR family. SUGAR is the makeup of choice for bold, independent women who refuse to be stereotyped in roles and if anyone shares the same DNA as us, it’s Ranveer! Her personality of being bold, quirky and vibrant makes the association a natural fit.”
“We are delighted to have Ranveer on board as we look forward to strengthening our brand’s connection with consumers. Without a doubt, he is one of the most popular youth icons in the country and his unstoppable and groundbreaking personality fits very well with the spirit of the SUGAR brand. This will help fuel our growth trajectory as we continue to aggressively scale SUGAR into a large and much-loved beauty and makeup brand,” said Kaushik Mukherjee, Co-Founder and COO of SUGAR Cosmetics.
SUGAR Cosmetics started as a D2C brand in 2015 which quickly ventured into offline trading in 2017. Today, the brand records annual sales of over INR 550+ Crores with a physical presence with over 45,000 retail touchpoints in over of 550 cities as of today. With a broad portfolio of high-quality products that resonate with consumers, SUGAR has cultivated a loyal customer base and more than quadrupled sales in the last three years. The company’s effective use of impact-focused, new-age content marketing has helped develop lasting emotional connections with a wide range of consumer cohorts.
Ranveer Singh’s investment announcement comes on the heels of a $50 million Series D fundraising led by L Catterton’s Asian fund, the world’s largest consumer-focused private equity firm. The expanded round saw strong interest from multiple private equity funds with continued participation from existing investors: A91 Partners, Elevation Capital and India Quotient.
Also Read: Ranveer Singh Wins Best Actor at 67th Filmfare Awards for ’83; says: “Ranveer Singh powered by Deepika Padukone”
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