Bollywood actor Ranveer Singh has invested an undisclosed amount in Sugar Cosmetics, an omnichannel beauty startup.

With this partnership, Sugar expects to cement its position as a fan favourite and create new pathways for customer acquisition, particularly with the Gen Z and millennial audiences in India.

Sugar Cosmetics | Omnichannel Beauty Startup

Founded by IIM Ahmedabad alumni Vineeta Singh and Kaushik Mukherjee, Sugar Cosmetics started as a direct-to-consumer brand in 2015. The brand later ventured into offline trade in 2017.

Vineeta Singh, Co-founder and chief executive officer of Sugar Cosmetics, said,

“Sugar is the makeup of choice for bold, independent women who refuse to be stereotyped into roles, and if someone shares the same DNA as ours, it is Ranveer [Singh]! His personality makes the partnership a natural fit.”

The omnichannel cosmetics company has a presence across thousands of retail stores and chains such as Shoppers Stop, Lifestyle, Central, Health & Glow and NewU. It also sells its products online through Nykaa, Myntra, Amazon, and Flipkart, along with its own website and mobile app.

Today, Sugar Cosmetics claims to clock annual sales of more than Rs 550+ crore with a physical presence of 45,000+ retail touchpoints across 550+ cities.

Commenting on the development, Ranveer Singh said,

“I take pride in partnering with a brand that believes in empowering women. I have admired Sugar’s ability to build a tremendous fan following over the year. I’m excited to be a part of this journey and help the brand provide Indian women access to premium & quality makeup products specially formulated for them.”

In May 2022, Sugar Cosmetics raised $50 million (₹388 crores) in a round led by L Catterton, a consumer-focused private equity firm, to rapidly expand in the beauty and personal care market in India.

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