SUGAR Cosmetics expects to turn profitable in FY24; may file DRHP ...
24 October 2024
SUGAR Cosmetics CEO Vineeta Singh plans to take a shot at becoming India's largest makeup brand in category with good fundamentals at the IPO stage. Sugar Cosmetics aims to be profitable with 70% growth by 2024 to become the second largest brand in the colour cosmetics category. The brand currently operates around 180 stores and half of its business comes from the tie-2 and tie-3 cities, where there is growth potential. The company is projecting 70% growth in the coming year and the year after that, aiming to gain more market share, which currently stands at 6%.
SUGAR Cosmetics CEO Vineeta Singh plans to take a shot at becoming India's largest makeup brand in category with good fundamentals at the IPO stage. Sugar Cosmetics aims to be profitable with 70% growth by 2024 to become the second largest brand in the colour cosmetics category. The brand currently operates around 180 stores and half of its business comes from the tie-2 and tie-3 cities, where there is growth potential. The company is projecting 70% growth in the coming year and the year after that, aiming to gain more market share, which currently stands at 6%.
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