Jan 25, 2023
By: BI India BureauHer company Sugar Cosmetics has over 35,000 branded retail outlets in more than 540 cities, as per Singh’s LinkedIn page. She also founded beauty/grooming subscription company Fab Bag in 2012. Her estimated net worth is $8 million.
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Vineeta Singh is a single child born in a small village Anand in Gujarat. Both her parents were doctors. Her father was trying to develop a protein that can cure cancer and other critical illnesses.
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She completed her education from IIT Madras and IIM Ahmedabad. At the age of 23, she rejected a ₹1 crore job offer from Deutsche Bank during campus placements after her MBA. She went on to start her own company Sugar Cosmetics.
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She worked as an intern for Deutsche Bank and ITC Ltd. She was later a director for Quetzal Online Private Limited and Quetzal Verify Private Limited at different times. Her D2C cosmetic brand Sugar Cosmetics is operated by Vellvette Lifestyle Private Limited.
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Vineeta Singh has been listed by Forbes as Most Powerful Women of 2021.
Credit: Forbes-India
She also revealed on YouTube chat show The BarberShop with Shantanu that investors refused to fund her startup until her husband Kaushik Mukherjee (COO of Sugar Cosmetics) joined. She said an investor told her that they “don’t invest in solo women founders.”
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At present, her company is valued at ₹750 crore. The company has 9 investors including actor Ranveer Singh, A91 Partners who joined them in September 2022.
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The company’s other investors include India Quotient, Elevation Capital, L Catterton, Stride Ventures, Anicut Capital to name a few. Sugar also acquired a majority stake in natural skin care brand ENN Beauty last year.
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On Shark Tank India, Singh has invested in media firm JoshTalks, pickles company JhaJi Stores, Wakao Foods, BluePine Foods, Nomad Food Project and Jain Shikanji Masala, to name a few.
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In an interview with Mint, she shared “If you're leaving a corporate career to work at a startup, remember that one of the most important ingredients you'll need to succeed there is belief! Setbacks are inevitable”
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