Sugar Cosmetics expects to achieve Rs 500 crore net revenue this year, list in next few years
Beauty brand Sugar Cosmetics is gearing up for an initial public offering in the coming few years and expects to achieve Rs 500 crore in net revenue this year by harnessing omni-channel retail and social media marketing.
“In terms of market share, we are the third largest makeup brand,” Sugar Cosmetics’ co-founder and CEO Vineeta Singh said at the recent ETRetailTech Summit in Mumbai, ET Retail reported. “We managed to get here because of our obsession with the young woman.”
In order to amp up performance before listing on the bourses, Sugar Cosmetics is further strengthening its popularity amongst young Indians through its digital content. The brand clocks 300 million impressions and four billion content views a month, according to Singh. “It helps 90% of our customers discover us digitally, but only half of them are actually shopping us online.”
The brand has seen especially high engagement with its beauty content on YouTube, where influencers from across the country use Sugar Cosmetics products in their content. By working with influencers, the brand has gained the trust of younger generations who trust influencer content far more than adverts.
Sugar Cosmetics is confident that its strategy to have an online and offline presence will continue to increase sales. “The moment we went offline, our online sales grew,” said Singh.
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