Introduction
Shark Tank India Season 2 is concluded! , the well-known reality programme where company owners from various fields pitch their ideas to sharks and ask for investments actually had its conclusion on March 20. Vineeta Singh, Peyush Bansal, Namita Thapar, Aman Gupta, Amit Jain, and Anupam Mittal are players of the Sharks.
One of the most discussed topics from Shark Tank India Season 2 was the Sugar Cosmetics deal. An Indian cosmetics company called Sugar Cosmetics focuses on makeup items including lipsticks, eyeliners, and foundations. Kaushik Mukherjee and Vineeta Singh launched the company in 2015, and since then, it has been well-known for its durable and reasonably priced goods.
Vineeta Singh and Kaushik Mukherjee switched to pitching and introduced their company to the other Sharks. Also, they described their path in starting Sugar Cosmetics and growing it to higher heights. As Kaushik entered the room, he invited Vineeta Singh, his business partner from 2016, to join him in presenting their brand to the sharks. For 2% equity, they requested an investment of Rs. 1 crore.
About the Brand
Vineeta Singh launched the Indian cosmetics company Sugar Cosmetics in 2015. The business concentrates on producing superior, cruelty-free cosmetics that are tailored to the requirements of Indian women. Throughout time, Sugar Cosmetics has grown in popularity and status as a top brand in the Indian beauty sector.
The business employs recyclable materials and has adopted eco-friendly packaging for its goods. Customers who care about the environment and the effects of their shopping decisions are drawn in by this.
The business has a huge brand identity and image. Customers are drawn to it because of its distinctive packaging and distinctive branding. The brand’s commitment to recognising variety and individuality is shared by its intended market.
The business sells a wide range of cosmetics, such as lipsticks, eyeliners, mascaras, and eyeshadows. In order to accommodate their clients’ varied skin tones and tastes, they also provide a variety of hues and formulations.
Sales and Valuation
In the fiscal year 2020–2021, Sugar Cosmetics earned INR 105 crore (about USD 14 million), according to a report by ET BrandEquity.
There was an increase of 64% over the previous year. Since the company’s founding in 2015, it has expanded quickly, and in the last five years, its revenue has climbed more than ten times.
In a fundraising round headed by A91 Partners in December 2019, Sugar Cosmetics received INR 100 crore (USD 13.5 million) in value. The firm was then valued at INR 500 crore ( USD 67 million).
The line of beauty items from Sugar Cosmetics are reasonably priced while still being of great quality.
Depending on the product, prices might range from INR 499 to INR 699 for their lipsticks, for instance (approximately USD 6.7 to USD 9.4). Because of this, the brand is more widely available to consumers, which has contributed to its rising appeal in the Indian beauty sector.
Deal or no deal?
Don’t anticipate any leniency, Peyush said while Vineeta and Kaushik were promoting Sugar Cosmetics in the show from March 10.
Aman also inquired about the funding rounds. According to Vineeta, they only received one investment after that in 2013 because people worried that they may get into a commercial disagreement.
After a serious conversation about profit and loss, Vineeta reached an agreement with the Sharks for 5 crore for 5% equity.
Conclusion
The company’s successful brand positioning, web presence, wide range of products, and emphasis on sustainability all played a part. To overcome these obstacles and maintain its lead in a ferociously competitive industry, it will need to keep innovating and adapting.
A pivotal point for the company and the Indian beauty sector as a whole was the Sugar Cosmetics deal on Shark Tank India Season 2. It demonstrated the potential of Indian entrepreneurs and the rising popularity of the cosmetics and beauty industry. The Sugar Cosmetics deal from Shark Tank India Season 2 was, all things considered, a success for the company and a sign of the promise of Indian start-ups.
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