Vineeta Singh Biography: Shark Tank India, ₹3000 Crore Net worth, Age, Family, Sugar Cosmetics

In this article we are going to talk about Vineeta Singh. Vineeta is the co-founder of the popular cosmetic brand Sugar. Vineeta started Sugar at a time when the domestic cosmetic market was under control of foreign cosmetic companies like Loreal and Lakme. So after reading this article you would get answers of questions like Vineeta Singh Net worth, salary, family, husband and Sugar cosmetic brand.

INTRODUCTION

She comes from a middle class family and she always had an ambition to make a brand of her own. After graduating from Indian Institute of Management Ahmedabad she thought of starting her own cosmetic brand, but the problem was, she had no experience about the industry. And also the industry was highly monopolised by foreign cosmetic brands.

These big giants used to hire actors from Bollywood to endorse their products which made it highly difficult for a new brand to emerge.

Even after knowing that she is not having the first mover advantage, she entered in the market and gained experience.

Sugar cosmetics is now a 3000 crore rupees company

EDUCATIONAL QUALIFICATION

Vineeta Singh was always a bright student she got admission in highly prestigious college IIT Madras in electrical engineering branch. After graduating from IIT Madras, she got admission in the best business school of India IIM Ahmedabad.

1 CRORE PLACEMENT OFFER

Vineeta completed her MBA from Indian Institute of Management Ahmedabad from where she got a placement offer of 1 crore rupees as an investment banker.

Vineeta Singh declined that placement offer in order to pursue her passion of creating a cosmetic brand.

SUGAR COSMETICS

Sugar had to face stiff competition because of other companies that were already dominating the market. In April and May 2021, Sugar had a hard time sustaining its business because of the second wave.

But after implementing of successful strategies sugar had a growth of 60% in the pandemic time. In November 2021 sugar reported the highest sales ever. When every other cosmetic brand was suffering to maintain its sales, Sugar not only retained its old customers but also added a lot of bew customers. 

BUSINESS STRATEGY

Big giants of cosmetics usually hire celebrities for endorsements and ads. But sugar had a different strategy, it targeted social media influencers and asked them to promote their product. 

Actually Indian women are more influenced by the the women's around them instead of celebrities. This was the main marketing strategy by sugar