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Home Gadgets Bollywood actor Ranveer Singh invests in beauty startup Sugar Cosmetics

Bollywood actor Ranveer Singh invests in beauty startup Sugar Cosmetics

Bollywood actor Ranveer Singh has invested an undisclosed quantity in omnichannel magnificence startup Sugar Cosmetics. Singh’s funding comes near the $50 million funding the startup raised from the Asia fund of L Catterton.

Sugar expects this partnership to cement its place as a fan favorite and create new pathways for buyer acquisition, significantly with the Gen Z and millennial audiences in India.

“I take delight in partnering with a model that believes in empowering ladies. I’ve admired Sugar’s potential to construct an incredible fan following over the 12 months. I’m excited to be part of this journey and assist the model present Indian ladies entry to premium & high quality make-up merchandise, specifically formulated for them,” stated Singh.

Sugar Cosmetics began as a direct-to-consumer model in 2015 and ventured into offline commerce in 2017. Right this moment, the model claims to clock annual gross sales of greater than Rs 550+ crore with a bodily of 45,000+ retail touchpoints throughout 550+ cities.

“Sugar is the make-up of selection for daring, impartial ladies who refuse to be stereotyped into roles and if somebody shares the identical DNA as ours, it’s Ranveer [Singh]! His character makes the partnership a pure match,” stated Vineeta Singh, cofounder and chief govt officer of Sugar Cosmetics stated.

Additional, Singh joins an inventory of Bollywood actors who’ve lately invested in startups.
Cloud kitchen operator Curefoods raised funding from Varun Dhawan in April and

Fatehi in July this 12 months.
Fatehi also became the brand ambassador of Cakezone, the startup’s desserts brand.

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