Ranveer Singh invests in beauty brand Sugar Cosmetics
Bollywood actor Ranveer Singh has invested in beauty brand Sugar Cosmetics and will work with the brand to connect with shoppers in key markets.
As part of the partnership, Ranveer Singh will,” play the role of brand evangelist and build connect across key markets,” read a statement issued by Sugar Cosmetics, ET Bureau reported. The business did not reveal the amount Singh invested but the funds are expected to be used to amp up the business’ expansion into new markets.
“Ranveer’s personality of being bold, quirky, and vibrant makes the partnership a natural fit,” said Sugar Cosmetics’ co-founder Vineeta Singh in a statement, the Economic Times reported. Singh is known for his flamboyant clothing style and love for bold colours, which is also seen in Sugar Cosmetics’ branding and product offering.
The business has been bullish on funding this year and also recently secured $50 million in a Series D funding round led by consumer-focused private equity business L Catterton.
Sugar Cosmetics launched in 2015 as a direct-to-customer online beauty brand and it stepped into brick-and-mortar retail in 2017. The brand reports annual sales of over Rs 550 crore and has added new product lines ranging from travel accessories to makeup pouches among others.
Copyright © 2023 FashionNetwork.com All rights reserved.