Vineeta Singh is the founder and CEO of Sugar Cosmetics. She has gained a prominent name for herself in the show Shark Tank India, where she is an investor. Outside the show, she has become a sensation on social media through her memes surfacing for the whole world to see.
However, not only does the shark stand as a vibrant face for her cosmetic brand, but she also has a knack for humour and has given hilarious responses to memes and criticisms thrown towards her.
Vineeta Singh has been born and brought up in New Delhi and completed her primary education at Delhi Public School and Rama Krishna Puran school. She went on to pursue her graduation in Electrical Engineering from IIT Madras and MBA from IIM Ahmedabad. She served as a summer student at Deutsche Bank. At present, her net worth is about $8 million.
At the age of 23, she became the first youngest graduate to decline INR 1 crore per year placement offer from a global investment bank. Vineeta Singh then started Sugar Cosmetics with her husband Kaushik Mukherjee in 2015.
Her entrepreneurial journey however hasn’t been an easy road. She built her brand from scratch and today her net worth is around $8 million.
Recently Vineeta Singh shared her journey of growing her home-grown cosmetic brand, after receiving her LinkedIn Influencer Batch. She has expressed very profoundly how it is difficult for “shepreneurs”, to create a brand for women.
Her initial idea was to start a Lingerie brand, but the process did not take any solid form. In 2012, she became the Co-founder of the FAB BAG brand, which was her first step in the beauty industry. It allowed her to understand the working of the beauty industry while also understanding the young audience. This brand lasted for three years, after which Vineeta Singh moved on to build her own brand.
Vineeta Singh believes that it was the experiences and learning from the FAB BAG brand that helped her to open her homegrown brand – Sugar cosmetics.
Sugar Cosmetics was initially built as a D2C (direct-to-consumer) brand. The brand started with only two products and now has an entire makeup line for every woman. Vineeta Singh realised that there is a need for quality cosmetics which are also cost-effective and cater to the Indian market.
People in India look up to International standards of Cosmetics, which were missing from India. She, along with her husband, decided to open Sugar Cosmetics which caters specifically to Indian skin tones, while also proving standard-quality products.
The brand has a diverse collection of shades, all matching the needs of Indian women. Although she wasn’t ready to enter the beauty industry since she came from a family of scientists, she decided that the core of her business should be women. She wanted to do something keeping in mind that women are her target audience. The company has managed to attract Generation Z and Millennials the most, making them the primary audience of the brand.
Sugar Cosmetics was solely selling online in its early days, which made it difficult for the brand to compete with other businesses. After overcoming all the obstacles, Sugar Cosmetics has made a prominent name for itself in the beauty market, with its products available not only on online portals such as Nykaa but the brand also has its own App, which sells over 6,50,000 products per month. The brand has also set its foot outside the digital world and now has more than 130 stores all around India.
Vineeta Singh, who comes across as a free-spirited yet logical shark on the show Shark Tank India, has had her fair share of struggles where she also had to deal with the obstacles of sexism and stereotyping. She had her brand and her ideas to make a name for herself in a male-dominated society and that is what she has done.
The Indian Businesswoman and our strong-headed Shark also had to suffer criticism even after making her brand stand tall in the Indian market. But what sets her apart is her ability to deal with criticism and mockery and laughing off the memes.
Read: Who is Amit Jain? Everything to know about Shark Tank India Season 2 Judge.
Vineeta Singh recently came out with a video where she is mimicking Raju’s mother from 3 Idiots, and her performance has won the heart of many people on the internet. All we have to say for Vineeta Singh is that she stands tall in the list of our most respected Sharks, as she has earned the title by challenging the beliefs of a male-dominated society and has come out as a strong successful woman, and now an even stronger Shark.