Sugar cosmetics revenue

Direct-to-consumer (D2C) beauty firms have expanded at a blistering rate over the previous four to five years, with startups like Although Sugar’s top line increased, it appears that it significantly undershot its FY22 revenue projection of Rs 300 crore. Sales of cosmetic and beauty items generated a 75.6% increase in revenue to Rs 221.8 crore in FY22 from Rs 126.34 crore in FY21. 3 lakh rupees were received by the corporation as export incentives. In addition to this, Sugar reported a non-operating income of Rs 2 crore, which comprises interest on recent investments. Products from Sugar are offered for sale on online stores like Amazon, Nykaa, and Myntra. Additionally, it facilitates sales outside of India through its own website and mobile app for retail. The brand also uses social media platforms to advertise to its target audiences and engage them through paid partnerships and influencer marketing initiatives. Lipsticks, which account for about 60% of the brand’s revenue, are a top seller, according to the company, followed by face products. It also entered the hair category in FY22 through the purchase of ENN Beauty. Advertising and sales promotion costs made up 32.5% of the overall budget for spending. From Rs 34.36 crore in FY21 to Rs 97.54 crore in FY22, the cost grew by 2.8X. Another significant expense during FY22 was the cost of purchasing cosmetics from manufacturers, which increased by around 63% to Rs 66.35 crore. From Rs 19.2 crore in FY21 to Rs 35.52 crore ...

Sugar Cosmetics, co-founded by husband-wife duo Kaushik Mukherjee and Vineeta Singh, the latter of whom was recently a ‘shark’ on the viral series Shark Tank India, is in talks to raise over $50 million at a valuation of about $500 million, a 5x jump in a year, said people familiar with the matter, requesting anonymity. The round will be led by L Catterton Asia, an investment firm partnering with Louis Vuitton Moët Hennessy (LVMH), and manages over $30 billion in assets globally, the people cited above said. Sugar Cosmetics declined to comment while L Catterton did not respond to queries seeking comment. Sugar currently sells lipsticks, eyeliners, face and eye brushes, and recently expanded into skincare segment, selling moisturisers and sheet masks. It currently has an annualised revenue of about Rs 320-350 crore, or about Rs 27-30 crore of net revenue a month, sources said. The deal and Sugar’s surging valuation represent a sharp uptick in consumption as well as funding for new-age beauty and personal care brands, which start selling online and look to leverage social media word-of-mouth, online trends and a democratised internet to grow fast and expand offline later. These so-called direct-to-consumer (D2C) brands raised $2 billion in funding last year, trebling year-on-year, with the COVID-19 pandemic driving online adoption. A rise in online brands has however led to digital advertising costs, as Google and Facebook have started charging these internet companies highe...

The beauty and skincare segment took a hard hit during 2020 due to COVID 19 disruptions as buying preferences swayed toward essential products and conventional supply chains for the segment went through an upheaval. D2C focused brands felt the heat of the countrywide lockdowns which took some steam out of their growth numbers during the first half of last fiscal. Sugar Cosmetics has bucked the trend as it managed 22% growth in its operating revenue during the last fiscal year. The Vineeta Singh-led company booked operating revenues of Rs 126.4 crore during FY21 as compared to The cosmetics startup positions itself as an omnichannel brand, with a presence in over 10,000 retail stores while also selling its products on e-commerce marketplaces including Amazon, Nykaa and Myntra. Sugar Cosmetics also retails via its own website and mobile app facilitating sales outside India as well. The nine-year-old company made 93.1% of its sales in India with domestic collections surging by 34.1% to Rs 117.61 crore during FY21 from Rs 87.7 crore collected in FY20. Export sales bore the brunt of travel and freight disruptions, dropping 45.4% from Rs 16 crore to a little over Rs 8.7 crore during FY21. Sugar procures cosmetics products from manufacturers in India and abroad, and the cost of stock in trade (including testers and consumables) is the largest cost centre for the company, accounting for 28.6% of its annual expenses. This cost remained relatively flat due to a slow down in demand a...

After building their brands through apps, websites, and e-marketplaces, many D2C brands are now opening physical stores to accelerate the next phase of growth. SUGAR Cosmetics, which intends to double its revenue in fiscal 2023, has a similar growth plan and hopes to ramp up its presence across 100,000 retail stores during that period. Vineeta Singh, co-founder and CEO, SUGAR Cosmetics, tells Akanksha Nagar about ways to build profitable brands as D2C funding begins to dry up. Edited excerpts: Tell us how the firm is going about ramping up its offline presence. In our most recent Series D round, we raised $50 million primarily to expand distribution. Currently available in over 40,000-45,000 retail outlets, we want to be present in about 100,000 retail stores (mainly in smaller cities) over the next 12 months and plan to open about 250 of our own exclusive stores by the end of FY24. The split of revenue between offline and online is currently 50:50, and we anticipate that during the coming fiscal, 60% of the revenue will come from offline, where there are still plenty of opportunities for greenfield expansion. Beyond reel life We intend to double our revenue this fiscal and reach annualised sales of Rs 1,000 crore in the next 12 months. By FY24, tier-II and III cities will account for roughly 60–65% of our revenue. We are experimenting a lot with cutting-edge technology — for instance, an AR filter that allows one to try out lipstick. The company tracks the consumption of ...

May 31, 2022 | 11:57 am 2 min read The funding round was led by L Catterton Asia (Photo credit: SUGAR Cosmetics) Mumbai-based personal care brand SUGAR Cosmetics has raised $50 million in Series D fundraise at a valuation of $500 million. The funding round for the direct-to-consumer (D2C) company was led by the The move comes at a time when funding rounds are taking much longer to close. Why does this story matter? SUGAR has managed to raise funds at a time when companies are going on hiring freezes, reducing advertising and marketing expenditure, and shutting down non-core verticals. The cosmetics brand is quite popular among millennials and GenZ and has a huge scope for expansion. Notably, this is L Catterton's first investment in India. The firm was established in 2016. The company has raised $85.5 million till now Husband-wife duo Kaushik Mukherjee and Vineeta Singh co-founded SUGAR Cosmetics in 2012. It focuses on online and offline sales channels. The brand raised Rs. 85 crore from A91 Partners in March 2019, and $2 million from Stride Ventures in October 2020. In February 2021, it raised $21 million in a funding round led by Elevation Capital. To date, the brand has raised $85.5 million. SUGAR has a monthly net revenue of Rs. 27-30 crore SUGAR sells eye brushes, lipsticks, and eyeliners. It recently ventured into the skincare segment, selling moisturizers and face masks. The decade-old brand has over 100 stores across the country and takes on rivals such as Mamaeart...

Speaking to CosmeticsDesign-Asia​, CEO Vineeta Singh said that like many businesses in India, it experienced a massive loss of sales during the lockdown. “After the lockdown was announced in March, the company’s warehouses, retail operations, and logistics came to a halt. Our new launches coming from international manufacturing units were stalled.”​ She revealed that the team even had to take salary cuts and reshuffle jobs to deal with the crisis. Despite the tough situation, the company managed to return to profitability by the third quarter and closed FY2020 at a net revenue of Rs 105 Cr (USD14.5m). “​ We ensured we focused on adaptive strategies, clear communication and preparing so once the lockdown lifted, SUGAR could hit the ground running. And that’s what happened, by Q3, we were back to more than 150% revenues of pre-COVID levels,”​ said Singh. The company is currently at an annual net revenue run rate of around Rs 200 Cr (USD27.5m) and is aiming to double the figure in the next 12 months. This year, SUGAR is off to a strong start after raising $21m in its Series C funding led by Elevation Capital. The company intends to invest in new product development to keep ahead of the curve. “Apart from transfer-proof lipsticks and mask-proof makeup, hybrid products have really caught on in the past few months. ​ Such products have gained a surge in sales for SUGAR through our illuminating moisturisers, lip primers, lip balms, hydrating primers, and more,”​ said Singh. The f...

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