SUGAR Cosmetics closes $50 million Collection D investment led through L Catterton to double down on digital-first cosmetic

MUMBAI, India, Might 30, 2022 /PRNewswire/ — SUGAR Cosmetics (“SUGAR”), one in all India’s biggest omnichannel cosmetic corporations and a cult favourite among Gen Z and Millennial shoppers, these days introduced the shut of its $50 million Collection D fundraise led through the Asia fund of L Catterton, the most important international consumer-focused personal fairness company. The upsized spherical noticed sturdy passion from more than one personal fairness price range with endured participation from present traders – A91 Companions, Elevation Capital, and India Quotient – firmly putting the corporate on the right track to additional capitalize on its enlargement momentum within the swiftly increasing cosmetic and private care marketplace within the nation.

L Catterton’s experience in constructing iconic user manufacturers the world over and strategic courting with LVMH will empower SUGAR to embark on its subsequent level of enlargement amid the growth of India’s cosmetic and private care marketplace. Pushed through shoppers who’re increasingly more making cosmetics and skin care part of their day-to-day repertoire and experimenting with several types of merchandise, the rustic’s cosmetic and private care marketplace has expanded significantly over the last 5 years and is anticipated to succeed in 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 growth.

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

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

SUGAR Co-Founder and Leader Govt Officer Vineeta Singh stated, “Customers 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 ladies 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 cosmetic. L Catterton stocks our ethos of in point of fact figuring 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 functions will enhance our enlargement as we proceed on our adventure of delighting and over-delivering at the expectancies of our consumers and fanatics. We also are extraordinarily thankful for our present traders’ unwavering religion in either one of us and the unstoppable crew this is making our collective dream a fact.”

“We’ve been inspired with how SUGAR has sustained its momentum of fast enlargement throughout on-line and offline channels whilst keeping up wholesome running metrics,” commented Anjana Sasidharan, L Catterton Asia Managing Director, who will probably be becoming a member of the corporate’s board. “With a product-first mindset and deep figuring out in their goal shoppers, SUGAR’s management crew has established a robust place in India’s cosmetics marketplace, which is at a thrilling inflection level of enlargement. We sit up for partnering with the corporate to thoughtfully unencumber global publicity and force additional enlargement, leveraging our enjoy of running with over 20 cosmetic and private care corporations in L Catterton’s portfolio around the Americas, Europe, and Asia.”

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

About SUGAR Cosmetics

SUGAR Cosmetics, a cult-favorite among Gen Z and millennials, is among the fastest-growing top rate cosmetic 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 girls who refuse to be stereotyped into roles. Crafted in state of the art amenities throughout Germany, Italy, India, USA and Korea, the logo ships its bestselling merchandise in Lips, Eyes, Face, Nails & Pores and skin classes the world over. With a cruelty-free vary this is prime on taste and better on efficiency, the logo is obsessive about crafting merchandise which are an ideal fit for each and every Indian pores and skin tone throughout seasons and across the calendar. Sponsored through the agree with of marquee traders and the affection of tens of millions of make-up lovers, SUGAR Cosmetics is swiftly scaling its bodily presence with 40,000+ stores throughout 550+ towns and a undertaking of achieving your doorstep of each and every make-up consumer within the nation. For more info, please talk over with www.sugarcosmetics.com.

About L Catterton

With roughly $33 billion of fairness capital throughout its fund methods and 17 places of work world wide, L Catterton is the most important international consumer-focused personal fairness company. Leveraging deep class perception, operational excellence, and a extensive strategic community of relationships, L Catterton’s crew of just about 200 funding and running execs toughen control groups world wide in constructing sturdy, category-leading manufacturers. Since 1989, the company has made round 250 investments in user companies. For more info about L Catterton, please talk over with lcatterton.com.

CONTACTS

SUGAR Cosmetics

Amrita Shinde
amrita@sugarcosmetics.com
+91 91677 01919

L Catterton

Julie Hamilton (U.S.)
media@lcatterton.com
+1 203 742 5185

Bob Ong (Asia)
bob.ong@lcatterton.com
+65 6672 7619

George Smith Alexander (Adfactors, for L Catterton in India)
george.smith@adfactorspr.com
+91 98213 56867