In FY21, Beauty and Skincare brand: Sugar Cosmetics revenue crosses Rs 126 Cr
- ByStartupStory | March 31, 2022
During 2020 due to COVID 19 disruptions,the beauty and skincare segment took a hard hit as buying preferences swayed toward essential products and for the segment conventional supply chains went through an upheaval.
During the first half of last fiscal, D2C focused brands felt the heat of the countrywide lockdowns which took some steam out of their growth numbers. During the last fiscal year, the trend has been bucked by Sugar Cosmetics as it managed 22% growth in its operating revenue.
According to the company’s annual financial statements, as compared to Rs 103.71 crore earned in FY20, the Vineeta Singh-led company booked operating revenues of Rs 126.4 crore during FY21.
With a presence in over 10,000 retail stores while also selling its products on e-commerce marketplaces including Amazon, Nykaa and Myntra, the cosmetics startup positions itself as an omnichannel brand. Sugar Cosmetics also retails outside India via its own website and mobile app facilitating sales.
With domestic collections surging by 34.1% from Rs 87.7 crore collected in FY20 to Rs 117.61 crore during FY21, the nine-year-old company made 93.1% of its sales in India. Dropping 45.4% from Rs 16 crore to a little over Rs 8.7 crore during FY21, export sales bore the brunt of travel and freight disruptions.
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