SUGAR Cosmeticsone of India’s largest omnichannel magnificence firms a cult favorite amongst Gen Z Millennial customers at this time introduced Bollywood Superstar Ranveer Singh as its latest investor. This partnership between the youth icon one of many fastest-growing premium magnificence manufacturers is predicted to additional cement SUGAR’s place as a fan favourite create new pathways for buyer acquisitionespecially with the Gen Z millennial audiences in India.
Ranveer Singh makes his first startup investment with SUGAR Cosmetics
Excited about this new partnershipRanveer Singh added“Defying the conventional has been embedded in my DNA I take pride in partnering with a brthat believes in empowering women. I have admired SUGAR’s ability to build a tremendous fan-following over the years I’m excited to be a part of this journey help the brachieve its mission of providing Indian women access to premium & quality makeup products specially formulated for them.”
Commenting on the announcementVineeta SinghCofounder CEOSUGAR Cosmetics mentioned“We are absolutely thrilled to welcome Ranveer to the SUGAR family. SUGAR is the makeup of choice for boldindependent women who refuse to be stereotyped into roles if someone shares the same DNA as oursit is Ranveer! His personality of being boldquirkyvibrant makes the partnership a natural fit.”
“We are delighted to have Ranveer on board as we look forward to reinforcing our brconnect with consumers. He is undoubtedly one of the most popular youth icons in the country his unstoppable clutter-breaking personality fits very well with the brethos of SUGAR. This will help supercharge our growth trajectory as we continue scaling SUGAR aggressively to build it into a large much-loved makeup & beauty brand” mentioned Kaushik MukherjeeCofounder & COOSUGAR Cosmetics.
SUGAR Cosmetics began off as a D2C brin 2015 that shortly ventured into offline commerce in 2017. Todaythe brclocks annual gross sales of greater than INR 550+ Crores with a bodily presence with 45,000+ retail contact factors throughout 550+ cities as of at this time. With an intensive portfolio of high-quality merchandise that resonate with consumersSUGAR has cultivated a loyal buyer base has greater than quadrupled gross sales over the previous three years. The firm’s efficient use of new-ageimpact-focused content material advertising has helped it develop lasting emotional connections with a various vary of client cohorts.
Ranveer Singh’s investment announcement comes shut on the heels of the $50 million Series D fundraise led by the Asia fund of L Cattertonthe largest world consumer-focused non-public fairness agency. The upsized spherical noticed sturdy curiosity from a number of non-public fairness funds with continued participation from current traders – A91 PartnersElevation Capital India Quotient.
Also Read: Ranveer Singh baggage Best Actor award at 67th Filmfare Awards for ’83; says“Ranveer Singh powered by Deepika Padukone”
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