Sugar Cosmetics strengthens India presence, enters Russian market
Sugar Cosmetics is rapidly expanding its offline presence with the addition of new stores across India and has also begun its international expansion with its entry into the Russian market.
Sugar Cosmetics recently added a 454-square-foot store in the city of Hyderabad as part of its aggressive offline expansion plans, which involves opening 1,000 brick and mortar stores this year.
The company had raised around Rs 70 crore ($9.8 million) in January this year to fund its offline expansion plans witnessing a growth rate of over 700 percent.
Commenting on the expansion, Vineeta Singh CEO at Sugar Cosmetics in a statement said: “I am ecstatic about coming back to his beautiful city to launch our exclusive brand outlet. This is our fourth exclusive store in India. We aim to open 1000 brick and mortar stores by the end of this year which will bring us a step closer to our audience.
“Apart from India, we have also begun to captivate the international market with an in-store presence in Russia,” Singh added.
Sugar Cosmetics retails in Russia through L'Etoile, which is one of the biggest brand stores for perfume and make-up in the country. The Mumbai-based make-up brand Sugar Cosmetics was founded in 2012 by Kaushik Mukherjee and Vineeta Singh.
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