Sugar Cosmetics, India’s leading startup in the cosmetic sector, has successfully raised USD 50 million in its latest round. The company announced the news yesterday. The funding was led primarily by El Catterton with several other fund management and venture capital firms like Elevation Capital, A91 Partners and India Quotient also participated in this round of investment.
After this $50 million funding, the valuation of the company has now become close to $500 million. Overall, the cosmetics brand has now raised $85.5 million, as per industry experts.
Sugar Cosmetics is a D2C (Direct 2 Consumer) brand that was started in 2012 by husband-wife duo Kaushik Mukherjee and Vineeta Singh. The cosmetic brand sells a wide range of lipsticks, eyeliners, mascara, sheet masks, cosmetic products and skin products for different skin types.
Apart from India, the company also ships its products all over the world. The company’s revenue is around 350 crores every year, that is, an average of 27-30 crores every month.
After dominating the online market, the company has now decided to open a physical store. The brand is also expanding its offline presence and now has over 100 owned stores across the country. However, along with the SUGAR company in the cosmetic industry, there are also big competitors like Mamaearth, Nykaa and MyGlamm.
Here are some more details about SUGAR Cosmetics:
|Company Name||SUGAR Cosmetics|
|Products||Lipsticks, Eyeliners, Kajal, Sheet Masks, etc.|
|Revenue of FY21||INR 127.8 Cr|
|Total Valuation||~ $500 million|