Ranveer Singh makes his first startup investment with SUGAR Cosmetics : Bollywood News
SUGAR Cosmetics, certainly one of India’s largest omnichannel magnificence corporations and a cult favorite amongst Gen Z and Millennial shoppers at present introduced Bollywood Celebrity Ranveer Singh as its latest investor. This partnership between the youth icon and one of many fastest-growing premium magnificence manufacturers is anticipated to additional cement SUGAR’s place as a fan favourite and create new pathways for buyer acquisition, particularly with the Gen Z and millennial audiences in India.
Ranveer Singh makes his first startup funding with SUGAR Cosmetics
Enthusiastic about this new partnership, Ranveer Singh added, “Defying the traditional has been embedded in my DNA and I take delight in partnering with a model that believes in empowering girls. I’ve admired SUGAR’s potential to construct an amazing fan-following over time and I’m excited to be part of this journey and assist the model obtain its mission of offering Indian girls entry to premium & high quality make-up merchandise specifically formulated for them.”
Commenting on the announcement, Vineeta Singh, Cofounder and CEO, SUGAR Cosmetics mentioned, “We’re completely thrilled to welcome Ranveer to the SUGAR household. SUGAR is the make-up of selection for daring, impartial girls who refuse to be stereotyped into roles and if somebody shares the identical DNA as ours, it’s Ranveer! His persona of being daring, quirky, and vibrant makes the partnership a pure match.”
“We’re delighted to have Ranveer on board as we stay up for reinforcing our model join with shoppers. He’s undoubtedly one of the vital in style youth icons within the nation and his unstoppable and clutter-breaking persona suits very nicely with the model ethos of SUGAR. It will assist supercharge our progress trajectory as we proceed scaling SUGAR aggressively to construct it into a big and much-loved make-up & magnificence model” mentioned Kaushik Mukherjee, Cofounder & COO, SUGAR Cosmetics.
SUGAR Cosmetics began off as a D2C model in 2015 that rapidly ventured into offline commerce in 2017. Right now, the model clocks annual gross sales of greater than INR 550+ Crores with a bodily presence with 45,000+ retail contact factors throughout 550+ cities as of at present. With an intensive portfolio of high-quality merchandise that resonate with shoppers, SUGAR has cultivated a loyal buyer base and has greater than quadrupled gross sales over the previous three years. The corporate’s efficient use of new-age, impact-focused content material advertising and marketing has helped it develop lasting emotional connections with a various vary of client cohorts.
Ranveer Singh’s funding announcement comes shut on the heels of the $50 million Collection D fundraise led by the Asia fund of L Catterton, the biggest international consumer-focused personal fairness agency. The upsized spherical noticed sturdy curiosity from a number of personal fairness funds with continued participation from current traders – A91 Companions, Elevation Capital and India Quotient.
Additionally Learn: Ranveer Singh luggage Greatest Actor award at 67th Filmfare Awards for ’83; says, “Ranveer Singh powered by Deepika Padukone”
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