Sugar Cosmetics, a consumer-focused private equity business located in India, has secured $50 million in a Series D financing headed by L Catterton’s Asia fund.
A91 Partners, Elevation Capital, and India Quotient were among the existing investors that contributed to the round.
Sugar Cosmetics will benefit from L Catterton’s experience establishing consumer brands throughout the world, as well as its association with LVMH, the parent company of luxury brand Louis Vuitton.
Sugar Cosmetics makes cosmetics for the lips, eyes, and face, as well as nail and skin care. Over 40,000 retail shops are part of the company’s distribution network, which spans over 550 Indian cities. It has production plants in Germany, Italy, India, Korea, and the United States.
“At Sugar, we are devoted to creating innovative products that meticulously cater to the preferences of women with diverse skin tones and types who believe in expressing themselves with high-quality cosmetics and skincare products that complement their inner beauty,” said CEO Vineeta Singh.
Sales have more than doubled in the last three years, according to the firm, thanks to the efficient use of impact-focused content marketing aimed at a varied variety of customer cohorts.
Sugar Cosmetics secured US $21 million in a Series C investment headed by Elevation Capital in February 2021. The firm wanted to expand its presence in existing and new areas by expanding its digital and retail distribution channels.
