As festive season begins, SUGAR Cosmetics targets Rs 50 cr in October sales
With October marking the start of the festive season in India, businesses are expecting to meet their yearly sales targets. Beauty brand, which has recently ramped up its online presence, hopes to rake in about Rs 50 crores in sales this month.
The brand expects the momentum in sales to continue through the months of November and December, according to Vineeta Singh, CEO and Co-Founder, SUGAR Cosmetics.
The lip makeup segment, the D2C (direct-to-consumer) brand’s core category, is expected to drive festive growth. Overall, lip and face cosmetics are expected to account for 65 percent of its sales, while eyes and skincare bringing in the remaining 35 percent.
An offline SUGAR Cosmetics' store
The Mumbai-based brand, like other businesses across India, has had to rethink its operations to survive the COVID-19 led restrictions. Among other things, the company ramped up digital infrastructure and created a stronger brand presence to drive sales.
The brand sales are at an Rs 500 crore annual run rate, Vineeta says. Along with India, SUGAR Cosmetics has forayed into overseas markets, with a retail store in Russia and online presence in the US.
SUGAR Cosmetics plans to expand its offline standalone stores in FY22. Currently, the brand, founded in 2015, operates 70 stores on its own, a number that it plans to scale to 100 by this December.
Considering the ongoing momentum in sales and the festive season rush, the D2C brand is expecting to close this year at over two and half times net revenue compared to last year.
“There has been a massive jump in the time women are spending on their devices and that makes it easier for brands like us to get discovered, to engage with consumers,” Vineeta says about the company’s online reach.
“Purely through digital we are able to reach more than 40 million unique women every month,” shares Vineeta.
Operated by Vellvette Lifestyle, SUGAR Cosmetics has a robust digital presence with an app and a website, It also claims to have a huge following across its social media channels.
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