SUGAR Cosmetics closes $50 million Collection D investment led by way of L Catterton to double down on digital-first attractiveness

MUMBAI, India, Might 30, 2022 /PRNewswire/ — SUGAR Cosmetics (“SUGAR”), one in every of India’s biggest omnichannel attractiveness firms and a cult favourite among Gen Z and Millennial shoppers, these days introduced the shut of its $50 million Collection D fundraise led by way of the Asia fund of L Catterton, the biggest international consumer-focused non-public fairness company. The upsized spherical noticed robust hobby from more than one non-public fairness finances with persisted participation from current buyers – A91 Companions, Elevation Capital, and India Quotient – firmly putting the corporate on target to additional capitalize on its expansion momentum within the hastily increasing attractiveness and private care marketplace within the nation.

L Catterton’s experience in constructing iconic person manufacturers internationally and strategic courting with LVMH will empower SUGAR to embark on its subsequent degree of expansion amid the growth of India’s attractiveness and private care marketplace. Pushed by way of shoppers who’re more and more making cosmetics and skin care part of their day by day repertoire and experimenting with several types of merchandise, the rustic’s attractiveness and private care marketplace has expanded significantly during the last 5 years and is predicted to achieve roughly $21 billion in 2025. Emerging adoption of on-line buying groceries and larger product penetration in secondary towns also are contributing to the marketplace’s expansion.

With an intensive portfolio of fine quality merchandise that resonate with shoppers, SUGAR has cultivated a devoted buyer base and has greater than quadrupled gross sales during the last 3 years. The corporate’s efficient use of new-age, impact-focused content material advertising has helped it broaden lasting emotional connections with a various vary of person cohorts.

Thru a mix of fast paced e-commerce growth, speeded up partnerships with normal and fashionable industry shops, in addition to diligent same-store-sales expansion, SUGAR has additionally established a powerful omnichannel presence throughout India. The corporate’s talent to concurrently benefit from the proliferation of on-line buying groceries whilst developing a powerful native ecosystem of offline distribution companions has enabled it to draw and retain customers throughout all of the spectrum from metros to Tier II and III towns.

SUGAR Co-Founder and Leader Govt Officer Vineeta Singh stated, “Shoppers are on the center of all we do. At SUGAR, we’re faithful to making leading edge merchandise that meticulously cater to the personal tastes of girls with various pores and skin tones and kinds who imagine in expressing themselves with fine quality cosmetics and skin care merchandise that supplement their interior attractiveness. L Catterton stocks our ethos of really working out what issues maximum to shoppers, and my co-founder Kaushik and I are extremely joyful to welcome the company as our spouse. The company’s brand-building and value-creation features will beef up our expansion as we proceed on our adventure of delighting and over-delivering at the expectancies of our shoppers and fanatics. We also are extraordinarily thankful for our current buyers’ unwavering religion in either one of us and the unstoppable workforce this is making our collective dream a fact.”

“We have now been inspired with how SUGAR has sustained its momentum of fast expansion throughout on-line and offline channels whilst keeping up wholesome running metrics,” commented Anjana Sasidharan, L Catterton Asia Managing Director, who shall be becoming a member of the corporate’s board. “With a product-first mindset and deep working out in their goal shoppers, SUGAR’s management workforce has established a powerful place in India’s cosmetics marketplace, which is at a thrilling inflection level of growth. We stay up for partnering with the corporate to thoughtfully release global publicity and power additional expansion, leveraging our enjoy of operating with over 20 attractiveness and private care firms in L Catterton’s portfolio around the Americas, Europe, and Asia.”

L Catterton has important enjoy making an investment globally within the attractiveness and private care area. Present and previous investments within the area come with Il Makiage, Intercos, The Fair Corporate, TULA, Bliss, Ci FLAVORS, ELEMIS, ETVOS, Serve as of Attractiveness, Marubi, MERIT, and Sociolla, amongst others.

About SUGAR Cosmetics

SUGAR Cosmetics, a cult-favorite among Gen Z and millennials, is without doubt one of the fastest-growing top class attractiveness manufacturers in India. With its clutter-breaking character, signature low-poly packaging and chart-topping merchandise, SUGAR is the make-up of selection for daring, unbiased ladies who refuse to be stereotyped into roles. Crafted in state of the art amenities throughout Germany, Italy, India, USA and Korea, the emblem ships its bestselling merchandise in Lips, Eyes, Face, Nails & Pores and skin classes internationally. With a cruelty-free vary this is top on taste and better on efficiency, the emblem is obsessive about crafting merchandise which can be a really perfect fit for each and every Indian pores and skin tone throughout seasons and across the calendar. Subsidized by way of the consider of marquee buyers and the affection of thousands and thousands of make-up fanatics, SUGAR Cosmetics is hastily scaling its bodily presence with 40,000+ shops throughout 550+ towns and a challenge of achieving your step of each and every make-up person within the nation. For more info, please consult with www.sugarcosmetics.com.

About L Catterton

With roughly $33 billion of fairness capital throughout its fund methods and 17 places of work around the globe, L Catterton is the biggest international consumer-focused non-public fairness company. Leveraging deep class perception, operational excellence, and a wide strategic community of relationships, L Catterton’s workforce of just about 200 funding and running execs make stronger control groups around the globe in constructing robust, category-leading manufacturers. Since 1989, the company has made round 250 investments in person companies. For more info about L Catterton, please consult with lcatterton.com.

CONTACTS

SUGAR Cosmetics

Amrita Shinde
[email protected]
+91 91677 01919

L Catterton

Julie Hamilton (U.S.)
[email protected]
+1 203 742 5185

Bob Ong (Asia)
[email protected]
+65 6672 7619

George Smith Alexander (Adfactors, for L Catterton in India)
[email protected]
+91 98213 56867

SOURCE L Catterton