SUGAR Cosmetics’ Vineeta Singh on the make-up business, developments, and social media advertising

On Day 1 of Goafest 2022, CEO Vineeta Singh had some tips that could share in a keynote session.

Goafest is again after a 2 12 months hiatus and has efficiently kicked off. One of many keynote audio system on day 1 of the fest was Sugar Cosmetics’ CEO Vineeta Singh. Singh is the co-founder and CEO of Sugar Cosmetics. She lately featured on the entrepreneurial actuality TV present Shark Tank as one of many traders or one of many ‘Sharks’ on the present.

Singh took the stage to provide the viewers an thought of how the pandemic had impacted her enterprise and to provide them a greater thought of the model she’s attempting to construct. Sugar Cosmetics was launched in 2015 and the model has been rising steadily in India ever since. Based on a report by Entrackr, the corporate introduced a rise in working income – from Rs. 103 crore in FY20 to Rs. 126.f crore in FY21.

“Virtually 60% of our income comes from gross sales in our 30,000 offline shops,” she paused. “Nevertheless, 90% of our clients nonetheless proceed to find us on-line. We had been a digital first model at a time when there weren’t that many ladies customers on-line within the first place. Lower than 15% of all customers on-line had been girls customers. Nowadays, round 43% of customers on-line are girls,” she explains.

Singh provides that the consequences of the COVID-19 pandemic had been devastating, however it led to customers main a digital-first life – which has been good for Sugar’s enterprise. She says that originally, there was skepticism round what Sugar may do – if an organization that had solely raised round 5 or 6 crore rupees in funding may disrupt a magnificence market through which firms like L’Oreal Paris and Unilever’s Lakmé already existed.

“The fascinating factor in regards to the COVID pandemic is that it gave us a degree taking part in discipline when it got here to the sweetness business. Once we distributed our merchandise by way of e-commerce, it gave us entry to 1000s of pin codes throughout the nation,” she says. Singh additionally mentions that throughout the pandemic, the corporate ramped up concentrate on content material creation – which is ideated, scripted, and executed in home. She says that the content material final 12 months garnered roughly ‘billions’ of views.

Singh says that again in 2015, manufacturers operated very in another way, with lower than 2-3% of their companies being on-line. This resulted in plenty of companies not chatting with younger girls, which has modified in current instances.

She provides that there are plenty of firms that reproduce equivalent copies of the identical product and that this results in a scarcity of brand name and product differentiation.

In terms of influencer advertising, SUGAR Cosmetics primarily works with a barter system. The corporate hires influencers to create content material which is then promoted in-house, and each events garner visibility within the course of.

Based on Singh, make-up remains to be aspirational in nature and to immediate a buyer to purchase make-up, educating them on the way to use it is vital – that is the place the corporate’s content material play comes into the image.

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