Ranveer Singh

invests in SUGAR Cosmetics

as his first startup

Bringing Ranveer Singh on board aligns with the brand's philosophy, according to SUGAR Cosmetics cofounder Vineeta Singh.

In particular with the Gen Z and millennial audiences in India, Sugar anticipates that this partnership with Ranveer Singh will strengthen its position as a fan favorite.

The omnichannel beauty startup Sugar Cosmetics has received an undisclosed sum of funding from Bollywood actor Ranveer Singh.

Singh's investment is not far from the $50 million in funding that the startup received from L Catterton's Asia fund.

With a physical presence at more than 45,000 retail touch points nationwide, it currently clocks annual sales of more than Rs 550 crore.

Vineeta Singh and Kaushik Mukherjee founded the D2C brand SUGAR in 2015, which specialises in cosmetics for the lips, eyes, nails, and skin.

After securing $50 million in its Series D round in May 2022, the startup's valuation has reached almost $500 million. Since D2C was still young, it eventually adopted an omnichannel approach in 2017.

SUGAR Cosmetics has been very transparent about how it engages with customers and heavily relies on social media buzz-building and influencer marketing.

Over 2.3 million people follow its Instagram account, which frequently posts about how influencers have used SUGAR products.

It competes for a spot in the $300 billion direct-to-consumer market with companies like Mamaearth, WOW Skin Science, Nykaa, and others.