Today’s women are the most powerful and independent; they shape their futures and fulfill their ambitions. They also motivate other women to reach the milestones on their journey to success. Today’s women balance all roles and accomplish their tasks smoothly, from maintaining the household and children to jobs and achieving their goals.
Vineeta Singh, the co-founder & CEO of the homegrown cosmetic brand, SUGAR Cosmetics, is one of these outstanding women. And this is the story of her incredible journey, from rejecting a ₹ 1 crore job offer to following her passion and establishing her successful brand.
Early Life & Education
Born in Delhi, Vineeta did her schooling at Delhi Public School, RK Puram. She graduated from IIT-Madras with a degree in Electrical Engineering in 2005 and completed her MBA from IIM-Ahmedabad in 2007.
In 2006 she started her career as a summer intern at ITC Limited and later worked at Deutsche Bank as a summer intern. After some time, Vineeta was appointed Director at Quetzal Verify Private Limited. Her professional background shows she has experience in the banking and finance industries. Vineeta’s professional career includes being the CEO and founder of SUGAR and the Co-Founder of Fab Bag, a grooming subscription service. SUGAR now competes in the same market as Nykaa cosmetics, Kay by Katrina, and Starlust.
In the last few years, the cosmetics market in India has been expanding very fast, and many Indian women turn to well-known international brands to find the perfect shade or product. Keeping this in mind, Vineeta decided to create something which is Indian and according to the Indian women’s taste and requirements and also low in price.
In 2015, Vineeta and her husband Kaushik Mukherjee launched their cosmetic brand SUGAR in India with only 2 products specifically made for Indian skin tones and the Indian market. Since its launch, SUGAR cosmetics began generating buzz on social media and started focusing on women aged between 20 and 35. Today company has millions of followers on Instagram and Facebook, selling more than 6,50,000 units per month. In the initial years, SUGAR began as a digital-only beauty product market. Still, it has expanded to 130 plus physical locations across India, making it one of India’s most successful cosmetic businesses.
Now SUGAR Cosmetics app has more than 1 million downloads.
SUGAR’s Major Success
As of October 2022, according to media reports, SUGAR Cosmetics now clocks annual sales of more than 5.5 billion Indian rupees or $69 million. The business, which was making just a sale of approximately 2 crores in its initial years, is now generating this colossal amount is a huge thing. It took almost 7 years for Vineeta Singh, her husband, and co-founder of SUGAR Cosmetics, Kaushik Mukherjee, to climb the ladder of success and take their business to new heights.
The journey from getting seed funding to Series A and now with an annual sale of $69 million is not an easy journey for this couple. Vineeta and her husband, Kaushik, liquidated their final fixed deposit of ₹ 30 lakh to enter the volatile cosmetics market. In the first 2 years, her husband even started looking for work to support her financially. In 2017 The India Quotient, a Singapore-based RB Investments, invested in Sugar in an undisclosed Series A funding which was a massive turn of events for both the company and the founders.
SUGAR Cosmetics is Vineeta’s 3rd startup venture. She has turned it into one of the most successful and rapidly growing startups in India, providing massive employment to women in the country. Vineeta Singh was named a winner of the Economic Times 40 Under Forty Award 2020, which recognizes and honors India’s emerging business leaders.
In September 2022, Famous Bollywood actor Ranveer Singh invested an undisclosed amount in Sugar Cosmetics. This investment comes after the company’s $50 million series D funding round in May.
Shark Tank India
Recently Vineeta Singh appeared as one of the judges of the business reality show Shark Tank India – Season 1. Vineeta appeared as one of the kindest, most highly intellectual, and free-spirited judges. With her ever-smiling face and bright personality, she was loved by everyone on the show. In the Shark Tank India – Season 1, Vineeta invested ₹3.04 crores in 15 deals.
Lessons to Learn from Vinita Singh
Two failed ventures have not stopped Vineeta from starting SUGAR cosmetics as her third venture. Vineeta`s entrprenual journey is a motivational story that can motivate anyone to get up and work. She always believed in herself, which eventually led her to where she is now, running one of the biggest cosmetic brands in India.
Vineeta has been featured on the cover of various business magazines, including the cover of Forbes as Most Powerful Women in Business. In 2020 she was named one of the top 100 mindful women in the world by The Economic Times 40 Under Forty. In 2022 she was among the five Indians to be included in the WEF’s Young Global Leadership list. Failures did not bring Vineeta Singh down but led her closer to SUGAR.
As of November 2022, Vineeta Singh’s net worth is about INR. 300 Crore.
Frequent-Asked Questions (FAQs)
Who is Vineeta Singh?
Vineeta Singh is a famous Indian woman entrepreneur, founder, and CEO of the famous Indian beauty brand Sugar Cosmetics. She came into the limelight after being the judge of a TV reality show Shark Tank India Season 1.
Is Vineeta Singh married?
Yes! Vineeta Singh is married, her husband’s name is Kaushik Mukherjee, and they married in 2011.
What is the educational qualification of Vineeta Singh?
- She has done B. Tech in Electrical Engineering from the IIT, Madras
- MBA from the IIM, Ahmedabad
What is the net worth of Vineeta Singh?
As of October 2022, her net worth is around Rs. 300 crores.