From just selling 100 lipsticks now with a valuation of 3,000 crore ~ SUGAR cosmetics is giving a tough time to Lakmé and Maybelline.
Sugar, spice, and everything nice - Read this 🧵 to know the success story of sugar cosmetics (1/15)
#stockmarkets #SharkTankIndia #investing
Sugar, spice, and everything nice - Read this 🧵 to know the success story of sugar cosmetics (1/15)
#stockmarkets #SharkTankIndia #investing
Love of beauty is taste. The creation of beauty is art!
With love and art, Vineeta Singh and Kaushik Mukherjee created premium D2C #beauty brand SUGAR.
But SUGAR did not happen easily for them.
(2/15)
With love and art, Vineeta Singh and Kaushik Mukherjee created premium D2C #beauty brand SUGAR.
But SUGAR did not happen easily for them.
(2/15)
Did you know?
SUGAR is vineeta’s 3rd Startup.
Vineeta after completing her degrees from IIT Madras and IIM Ahmedabad directly jumped into entrepreneurship. She even declined an investment banking job of INR 1 Cr.
(3/15)
SUGAR is vineeta’s 3rd Startup.
Vineeta after completing her degrees from IIT Madras and IIM Ahmedabad directly jumped into entrepreneurship. She even declined an investment banking job of INR 1 Cr.
(3/15)
Singh founded Quetzal, background verification service for recruiters, in 2007 was a big fail.
Then in 2012, started Fab Bag, a monthly makeup and beauty subscription platform.
And in 2015, they pivoted the idea to setup SUGAR.
(4/15)
Then in 2012, started Fab Bag, a monthly makeup and beauty subscription platform.
And in 2015, they pivoted the idea to setup SUGAR.
(4/15)
Vineeta realised makeup brands that were available didn’t cater to Indian skin tones or the Indian way of life.
Makeup has to be long-lasting & matt, so that it won’t come off when commuting on public transport on polluted roads, & which is suited to Indian skin tones.
(5/15)
Makeup has to be long-lasting & matt, so that it won’t come off when commuting on public transport on polluted roads, & which is suited to Indian skin tones.
(5/15)
Sugar was introduced when the market was dominated by brands such as Lakme, L’Oreal, Maybelline, MAC etc. with an aim to provide a more compatible and affordable range of products.
On the 1st yr they only sold 100 lipsticks and now there valuation is of 3000 Crs 🤯
(6/15)
On the 1st yr they only sold 100 lipsticks and now there valuation is of 3000 Crs 🤯
(6/15)
In 2015 they registered sugar in Shopify, with 2 products black matt eyeliner & black coal pencil which became extremely popular in US & UK. But was not able to grow in India because of the lack of digitalisation.
(7/15)
(7/15)
They took the first and fast mover advantage!
(9/15)
(9/15)
SUGAR used a Thumb-Stopping Packaging AKA eye catching product (thoda hatt k 😜)
While the other brands used minimal black aesthetic designs, they went Bold, & used graphic route that employs low-poly illustrations.
(10/15)
While the other brands used minimal black aesthetic designs, they went Bold, & used graphic route that employs low-poly illustrations.
(10/15)
While 95% of the Indian beauty and cosmetics market is offline. So, they decided to develop an omnichannel presence. SUGAR was digital-only till 2017. By early 2018, they slowly started opening their retail outlets.
(11/15)
(11/15)
Today, Sugar has a physical presence across 2,500+ outlets in 130+ cities across India.
(12/15)
(12/15)
They built themselves as a content driven brand, SUGAR leveraged Instagram & YouTube for visual storytelling around makeup.
SUGAR focuses on three main factors:
- creating products that are long-lasting
- weather-proof
- and suitable for the tropical Indian weather.
(13/15)
SUGAR focuses on three main factors:
- creating products that are long-lasting
- weather-proof
- and suitable for the tropical Indian weather.
(13/15)
India is projected to become a INR 1,981 billion beauty & personal care opportunity by 2025.
So, what do you think will sugar be able to sustain in this highly competitive market?
(14/15)
So, what do you think will sugar be able to sustain in this highly competitive market?
(14/15)
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(15/15)
Link: bit.ly
(15/15)
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