7 years, 10,000+ retail touchpoints, Rs 100 crore turnover.
How an IIM-A alumnus turned down a Rs 1 crore job and built the cosmetic empire.
[A thread] 🧵
How an IIM-A alumnus turned down a Rs 1 crore job and built the cosmetic empire.
[A thread] 🧵
[1] Vineeta Singh was offered a Rs 1-crore job by a global investment bank when she was 23.
But she turned it down since she wanted to start her own company.
But she turned it down since she wanted to start her own company.
[2] Vineeta co-founded SUGAR Cosmetics with her husband Kaushik Mukherjee, who is also an IIM-A alumnus.
SUGAR is a cult-favourite beauty brand among Indian millennial women.
SUGAR is a cult-favourite beauty brand among Indian millennial women.
[3] In Feb 21, SUGAR Cosmetics raised $21 million [Rs 153 crore] in the Series C funding round.
In FY 19-20, the brand clocked Rs 100 crore revenue.
It grew by 60% from its pre-lockdown numbers even during the pandemic.
In FY 19-20, the brand clocked Rs 100 crore revenue.
It grew by 60% from its pre-lockdown numbers even during the pandemic.
[4] SUGAR Cosmetics makes beauty products that last all day, work for every skin tone, and match India’s tropical climate.
The brand celebrates every aspect of females irrespective of their style.
The brand celebrates every aspect of females irrespective of their style.
[5] When SUGAR Cosmetics started, the Indian beauty market was dominated by L'Oréal, Lakme, etc.
These brands were squandering money on celebrity endorsements and TV promotions.
These brands were squandering money on celebrity endorsements and TV promotions.
[6] However, SUGAR’s founders realised that today’s women are inspired and influenced by common women around them.
So, they collaborated with influencers on Instagram and Youtube to reach their target audience.
So, they collaborated with influencers on Instagram and Youtube to reach their target audience.
[7] SUGAR Cosmetics calls itself a content-driven company.
The co-founders focus heavily on content marketing to educate customers and build trust.
The co-founders focus heavily on content marketing to educate customers and build trust.
[8] Both Vineeta and Kaushik believe that small efforts compound over time.
[9] 3 gold-spitting tips from SUGAR Cosmetics' founders:
• Give your business 15 years. Then, you are bound to succeed.
• Focus on completing, not competing against others.
• Divide long-term goals into small milestones.
• Give your business 15 years. Then, you are bound to succeed.
• Focus on completing, not competing against others.
• Divide long-term goals into small milestones.
I recently recorded a podcast with Vineeta Singh (@vineetasng) and Kaushik Mukherjee (@kaushikmkj).
They unfolded the behind-the-scenes of building a cult-favourite, 100 crores turnover brand.
They unfolded the behind-the-scenes of building a cult-favourite, 100 crores turnover brand.
Liked the thread? RT the first tweet so others can also read the story of grit, struggle, determination, and success.
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