Bollywood stars Ranveer Singh has made his first seed investments in direct to consumer brand SUGAR Cosmetics, the company announced on Saturday. However, she did not disclose the investment figures. SUGAR Cosmetics started as a D2C brand in 2015 & then ventured into offline trading in 2017.
It currently has annual sale of over Rs 550 crore with a physicals presence at over 45,000 retails touch point across the country.
I admire SUGAR ability to build a tremendous following over the year & am excited to be a part of this journey and helps the brands achieve its mission of providing Indian women with access to premium makeup product. quality specially formulated for them. Singh said.
SUGAR Cosmetic raised $50 millions
In June, SUGAR Cosmetic raised $50 millions in Series D funding led by L Catterton Asian fund. The round also saw the participation of existing investor A91 Partner, Elevation Capital & India Quotient.
Ranveer new investments is expected to further drive SUGAR expansion into other potential markets, she said.
SUGAR is the makeup of choice for bold, independent women who refuse to be stereotyped in roles and if anyone shares the same DNA as ours, it’s Ranveer, said Vineeta Singh, co founder and CEO of SUGAR Cosmetics.
This will help fuel our growth trajectory as we continue to aggressively scale SUGAR into a large & much loved makeup and beauty brand, added Kaushik Mukherjee, co founder and COO.
Actress and Ranveer’s wife, Deepika Padukone, has invested in various startups, through her investments arm KA Enterprises, such as Epigamia, Nua, Blu Smart, Bellatrix Aerospace, and Atomberg Technologies, etc. (Ranveer Singh)