Sugar Cosmetics
A black matte lipstick built for Indian skin tones, then a chase after Maybelline's shelf space that nearly ended the company.
Small and new·From India·Founded 2015·Members
At a glance
- Founded
- 2015, with two products, a black kajal and a black matte eyeliner.1 Mint and Moneycontrol date the company itself to 2012, when the founders started a beauty subscription business.1016
- Founded by
- Vineeta Singh and Kaushik Mukherjee, husband and wife, both from IIM Ahmedabad.10
- Home
- Mumbai.11
- Owned by
- Private, held through Vellvette Lifestyle. A91 Partners holds about 19.97 per cent after the September 2026 round, alongside Elevation Capital, Anicut Capital and IndiaQuotient.101112
- What it sells
- Colour cosmetics and skincare for lips, eyes, face, nails and skin, under SUGAR, POP, ENN and Quench Botanics.311
- Size
- Revenue from operations of ₹404.4 crore in FY25, down about 20 per cent, with a net loss of ₹135 crore.11
How it got here
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Price
Membership is from $12 a month on the Yearly plan, which is charged at $144 once a year. Lifetime access is $59, paid once.Membership is from ₹200 a month on the Yearly plan, which is charged at ₹2,400 + GST once a year. Lifetime access is ₹3,999 + GST, paid once.
Sources for what is above
- 1For The Love Of Lipsticks: How SUGAR Cosmetics Is Painting It RedInc42 · 21 August 2020 · inc42.com
- 3D2C Personal Care Brand SUGAR Cosmetics Bags $50 MnInc42 · 31 May 2022 · inc42.com
- 10Sugar Cosmetics seeks ₹100-150 crore rescue funding at steep valuation cutMint · 13 May 2026 · livemint.com
- 11SUGAR Cosmetics Raises ₹145 Cr At Nearly 80% Valuation CutInc42 · 4 September 2026 · inc42.com
- 12Sugar Cosmetics raises Rs 144 Cr at Rs 755 Cr valuation; early investors seek steep discount exitsEntrackr · 4 September 2026 · entrackr.com
- 16Fewer stores, fewer SKUs, sharper focus: Inside Sugar Cosmetics' makeover after Rs 250 crore capital lifelineMoneycontrol · 15 September 2026 · moneycontrol.com
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