SUGAR Cosmetics raises undisclosed funding from Bollywood actor Ranveer Singh

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With a stake into the Direct-to-Consumer (D2C) company SUGAR Cosmetics, Bollywood actor Ranveer Singh is now the latest celebrity to join the Indian business scene. The announcement was released on behalf of Homegrown Cosmetics, the Homegrown Cosmetics brand on Saturday however, no specifics about the Ranveer’s investment was provided.

Its involvement with the actor comes after its $50 million Series D investment on June 1, which was led by L Catterton as well as previous shareholders A91 Partners, Elevation Capital along with India Quotient. SUGAR Cosmetics started as a direct-to-consumer company in the year 2015 before expanding to the offline market in the year 2017. The company currently has annual sales of over Rs . 550 crore, and has an actual presence that includes more than 45,000 retail outlets all over the nation.

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“I’ve admired SUGAR’s ability to establish a huge fan base over the years, and I’m pleased to be a part of this journey and assist the company to realize its aim of providing Indian women access to premium and quality beauty products exclusively formulated for them,” Singh added. The company says that Ranveer’s recent acquisition “is likely to greatly support SUGAR’s expansion in additional potential markets.”

“SUGAR is the cosmetics brand of choice for brave, independent women who refuse to be categorized into roles,” said Vineeeta Singh co-founder and chief executive officer of SUGAR Cosmetics. “This will assist in supercharging our growth trajectory as we continue developing SUGAR quickly to create a major and well-loved makeup and beauty brand,” co-founder and COO Kaushik Mukherjee.

Deepika Padukone, Ranveer Singh’s actress-wife has made investments in a variety of companies through her investment company KA Enterprises, including Epigamia, Nua, Blu Smart, Bellatrix Aerospace, and Atomberg Technologies, among others. Other famous people who have made investments in start-ups include actors Katrina Kaif, who has invested in Nykaa. Anushka Sharma has made investments in and acts as an spokesperson for the alternative meat business Blue Tribe Foods. Pankaj Tripathi, an actor is a shareholder in the agritech website Krishi Network. In addition, Alia Bhatt has invested in the IIT Kanpur-incubated Phool.

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