Ranveer Singh Makes His First Startup Investment In SUGAR Cosmetics
New Delhi: Actor Ranveer Singh has made his first startup funding. The actor has made the investment with the direct-to-consumer (D2C) model SUGAR Cosmetics.
SUGAR Cosmetics began off as a D2C model in 2015 after which it ventured into offline commerce in 2017.
At present, it’s clocking annual gross sales of greater than Rs 550 crore with a bodily presence with greater than 45,000 retail contact factors throughout the nation.
In June, SUGAR Cosmetics raised $50 million in sequence D funding led by the Asia fund of L Catterton. The spherical additionally noticed participation from current buyers: A91 Companions, Elevation Capital and India Quotient.
The brand new funding by Ranveer “is anticipated to additional increase SUGAR’s enlargement in different potential markets,” it mentioned.
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