SUGAR Cosmetics on picking up majority stake in ENN Beauty

51

New Delhi, Jan 30 (IANSlife) After having a year of many firsts, SUGAR Cosmetics parent company, Vellvette Lifestyle Pvt. Ltd. picks up majority stake in India’s natural skin and haircare brand — ENN Beauty.

Over the past three years, ENN Beauty, founded by Nandeeta Manchanda has redefined the ingredient-led skin and haircare category by popularising natural and simple beauty hacks in innovative textures and pigments. Proud to be handmade in India, their array of natural products not only focus on providing personal rejuvenation but visibly effective results. ENN Beauty’s founder, Nandeeta Manchanda will work closely with Vineeta Singh and Kaushik Mukherjee, Co-founders of Vellvette Lifestyle Pvt. Ltd, to accelerate the brand’s online presence and enter the retail industry.

IANSlife caught up with Vineeta Singh, CEO and Co-founder, SUGAR Cosmetics, to talk about the beauty business in the country and how the coming together of these two brands will impact it.

Q: Picking up a majority stake in ENN Beauty signifies two things — you believe that natural skincare will be big in the years to come and you’re consolidating to become a major player in the industry?

A: Aside from the onset of a pandemic, the Indian beauty industry has been rapidly expanding. According to the RedSeer report, the beauty and personal care industry was valued at $16 billion in 2020 and is expected to grow at a 12 per cent annual rate to $28 billion by 2025. We will enter the skincare category with ENN Beauty, and we expect it to grow exponentially over the next 12-24 months. Over the next 12-18 months, the company expects to generate Rs100 crore in annualised revenue.

Q: SUGAR aims to be “fast fashion for the face”, however the world is turning to sustainability and slow fashion, do you think you’re taking the right direction?

A: SUGAR focuses on bringing international makeup trends to India, as Millennials and Gen-Z all follow International influencers on YouTube and aspire to purchase those makeup products. We are constantly listening to our customers and working to meet their needs and desires; this is how we launch a majority of our products.

Yes, we are on the right track because our target audience is GenZ’z and millennials, prefer products that are paraben-free, cruelty-free, sustainable, and inclusive — and we do care about all of these. In terms of sustainability, we also introduced BB Cream Refills to reduce packaging waste. And inclusivity — we have 22 foundation shades to suit every Indian skintone and undertone.

Q: As we go into yet another phase of the pandemic, virtual meets and zoom calls are back in vogue, dressing waist up means the face needs to be tended to the most?

A: The pandemic not only altered market dynamics, but it also influenced consumer behaviour in favour of the beauty and makeup industries. Dressing waist up not only saves you from putting together full looks, but it also becomes the simplest mood-boosting fix. Putting on some lip and cheek tint with a little mascara will not only get you ready for the camera, but it will also lift your mood.

Q: Do you believe that India is still at its nascent stage when it comes to sustainability, and now is the time for brands like yours to capitalise on the growing demand focusing to capitalise on the market?

A: The pandemic did not initiate the sustainability revolution, but it has accelerated it. This conversation is still in its infancy in India, not least because the dominant discourse on sustainability focuses on the justifiably greater responsibility of developed countries in this regard.

It’s no longer just about finding the best deal, as younger generations, such as Gen-Z and millennials, are more likely to base their purchasing decisions on personal, social and environmental values and principles. They are not only shifting toward more environmentally friendly products, but they are also willing to pay a premium for them.

Q: Beauty subscriptions haven’t quite taken off in India as they have in the West, why do you think that is?

A: Our first startup, Fabbag, was a monthly makeup and beauty subscription for women that was in rough shape. Despite three years of operation, the venture had not grown. The company became enslaved by the allure of recurring revenue. India was not ready for a subscription-based beauty model. The US has become a subscription nation, with 31 per cent of millennials using subscription services and 38 per cent planning to subscribe in the next six months; however, India is still in its infancy.

Q: How do you intend on making SUGAR Cosmetics the go to brand for all things makeup?

A: Our products simply provide more value for the price we charge — it will be difficult to find products that are more pigmented, longer-lasting, and better suited to Indian skin tones. SUGAR has always been an anti-establishment, creator-led voice in a crowded market where brands spend more time talking about discounts than the power of beauty and cosmetics. We are and will remain millennial-focused, committed to providing more value and higher quality than any competitor in our price range.

Q: Lastly, your projections for the brand in 2022?

A: We will strengthen our core pillars — distribution, product, content and community — even more. With a company turnover of more than 500 crore, we aim to be in 100,000 stores by 2022 and to make SUGAR one of India’s Top 3 brands in the overall colour cosmetics category. We currently employ over 2000 women, with the goal of increasing that number to 3000 so that the brand is truly built by women for women!

(IANSlife can be contacted at ianslife@ians.in)

20220130-115005

LEAVE A REPLY

Please enter your comment!
Please enter your name here