Sugar Cosmetics' parent company Vellvette Lifestyle acquires 51% stake in ENN Beauty

By

Isabelle Crossley

Published
Jan 13, 2022

Beauty brand Sugar Cosmetics’ parent company Vellvette Lifestyle Private Limited has acquired a 51% stake in natural skin and hair care brand ENN Beauty to strengthen its position in India’s beauty and personal care segment.

As part of the deal, ENN Beauty’s founder Nandeeta Manchanda will work alongside Sugar Cosmetics’ co-founders, ET Bureau reported. Through its acquisition, Sugar Cosmetics plans to further tap into the booming market of beauty and hair case products in the value-for-money segment of the market in India. This will also help it reach more Tier 2 and 3 customers. 
 
“With ENN, we will enter the skincare category and we expect it to grow exponentially over the next 12- 24 months,” said Sugar Cosmetics’ co-founder Vineeta Singh, ET Tech reported. “The company is expected to achieve Rs 100 crore [$15 million] in annualised revenues over the next 12- 18 months.”

“We had competing offers but the partnership with Sugar gives us immediate access to the market and the infrastructure that they have built, which would have taken us a longer time to build,” said Manchanda. “This association will also help ENN Beauty in further strengthening and evolving their product range.”

Both brands had been in talks for two years to negotiate a partnership. ENN Beauty will now have access to Sugar Cosmetics’ digital audience of over 50 million and the brand will also expand its retail presence to over 100 outlets by the next financial year.