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What do you do when your doctor tells you that your sugar is higher than normal? All you can do is keep your sugar cosmetics products on a lower shelf.
Women entrepreneurs in India have been on the rise in recent years, and one fine example of this is the CEO of Sugar Cosmetics, Vineeta Singh. We recently saw her on the TV show, Shark Tank India, and like millions around the country, got inspired by her.
Vineeta Singh was born in Delhi, India, and pursued Electrical Engineering from IIT Madras and later did an MBA from IIM Ahmedabad.
After completing her MBA, she had her eyes set on her goal, which was to build her startup. To achieve this, she even turned down a job offer that would pay her Rs. 1 crore. She was always confident in herself that she has the skillset to make it big on her own.
She was never the type of person that would let her failures stop her from pursuing her dreams. Sugar Cosmetics was not her first startup, she tried her hand at starting various other companies, but they weren’t able to scale. This did not bring her down, and she stuck true to her mind of building something which would have women as the core customer. Hence, that gave rise to one of the leading cosmetic brands in the country, Sugar Cosmetics.
India always had a growing market demand for cosmetics, but finding the right shade and product often led to customers switching to foreign brands, hampering the local players. This is what drove Vineeta to ‘make in India’ and she decided to create something that would bring the right shade and texture to the Indian customers.
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The company wanted to target the youth of India. It created a buzz around the world of social media and caught the attention of customers between the ages of 20-and 35 years. This enabled it to earn a huge revenue of Rs. 126.4 crore last year, with a valuation of more than Rs. 750 crore.
Despite having the products to succeed and a market ready to be served, Vineeta and her team faced many hurdles before they reached the top of the ladder. Trying to be a digital beauty brand, brought a lot of skepticism when it came to raising capital as investors thought the market would be very small in size and it would be impossible to scale this business. However, she managed to overcome these hurdles and create a cube of sugar that even diabetic patients could use. Now we see Vineeta Singh as an inspiration, by not only building a brand that would change the cosmetic industry in the country but also seeing how she supported aspiring entrepreneurs in the show Shark Tank India. The CEO of Sugar Cosmetics is not only a successful businesswoman but an inspiration to everyone around the globe.
