When Sugar Cosmetics started, Vineeta Singh, Kaushik Mukherjee and Tej Singh were just a few of the first SUGAR founders. After becoming a subscriber, they launched their own brand, SUGAR Cosmetics. Their business model enables them to compete in a more lucrative market. These founders’ ability to convince people to try their products makes them the hottest new cosmetics brand.
After completing her MBA, Vineeta Singh decided to start her own beauty brand, Sugar Cosmetics. She had initially earned around Rs 10,000 a month at her first job, as Director at Quetzal Online Private Limited in Mumbai. After five years, she decided to start her own brand. She and her husband co-founded FAB BAG, a subscription beauty product company, and soon after, they founded SUGAR cosmetics. Today, Vineeta Singh is the CEO of the largest cosmetic brand in India.
Vineeta Singh studied Electrical Engineering at IIT Madras and MBA from IIM Ahmedabad. She then started SUGAR Cosmetics, which now has over 35,000 points of distribution in 120 cities across India. Her net worth is estimated at $8 million. She was also an intern at Deutsche Bank while studying at IIT Madras. After earning her MBA, Vineeta Singh joined Fab Bags in 2012, and later became owner of Sugar Cosmetics in 2015.
Despite many challenges, Sugar Cosmetics has managed to succeed and is now profitable. Sugar Cosmetics employs more than 1500 people in India, including seventy percent women. It sells around six million goods a month and has a large following on social media. The company began as a digital only beauty product company but has since expanded into 130+ physical locations across the country. As of January 2022, Vineeta Singh earns about 22 crores a year.
When you want to know what it takes to build a premium beauty brand, you should listen to SUGAR Cosmetics co-founder Kaushik Mukherjee. He grew up in New Alipore, where he played cricket and attended the Don Bosco Park Circus. Now, he is the COO of the company and tells us about the startup’s journey.
The co-founder of SUGAR Cosmetics, Kaushik learned the sitar in school. He was a member of the school’s 100-metre relay and under-16 cricket teams, and was the chief coordinator of the BITS Alumni Association vs. ISB soccer match. He also played in numerous clubs and associations, and was a webmaster for Oasis in 2003.
In addition to founding SUGAR Cosmetics, Kaushik is also the co-founder of Vineeta Singh’s company. They met while Kaushik was working at another company and were attracted to one another’s talents and ideas. Kaushik also valued Vineeta’s background in advertising, product development, and inventions, which led to the pair’s collaboration. Their success has been remarkable and they plan to continue growing the company.
While it may not have the brand ambassador of a celebrity, Sugar has a strong following on Instagram and YouTube. Sugar has over 1.8 million Instagram followers and 410,000 YouTube views a day. It also recently acquired a majority stake in ENN Beauty, a fast-growing natural skin and haircare brand with an ambitious INR 100 crore annualised sales target. The company’s signature packaging is simple but vibrant, and has a clutter-breaking persona.
Anushka Sharma, the CEO and founder of Sugar Cosmetics, has a background in science. She went to Delhi Public School and later completed her Senior Secondary education from Rama Krishna Puran. She then completed her bachelor’s degree in electrical engineering from IIT Madras. She then went on to complete her MBA from IIM Ahmedabad and worked as an intern at Deutsche Bank in London and New York. After graduation, Singh founded the beauty box company Fab Bag and launched Sugar Cosmetics. In 2013, Tej turned down an offer of Rs one crore per year from a large international company to focus on his dream business.
Vineeta Singh was born in 1983 in Anand, Gujarat. Her parents encouraged her to study and she lived with her maternal grandmother in Bhavnagar, Gujarat. Her parents were both educators and got the opportunity to work in Delhi. The family relocated to the capital city when she was just four years old. Then, she met Tej Singh, who became her business partner. The two quickly became close and soon, Sugar Cosmetics was in business!
The duo is a team of scientists and entrepreneurs. Tej Singh was a scientist at the All India Institute of Medical Sciences and Kaushik Mukherjee is the company’s chief operating officer. Together, they have a long list of accomplishments. Their company is thriving and is now worth $1.2 billion. The duo are regarded as “the Ironman Couple”.