The Indian beauty industry, until a decade ago, primarily consisted of multinational brands. These brands offered products that didn’t quite cater to the specific needs of the Indian climate and skin tone. This gap was recognized by Vineeta Singh, who introduced SUGAR Cosmetics, a homegrown brand tailored for Indian consumers. Since its inception, the brand has gained considerable attention, especially after Singh’s participation as a judge on Shark Tank India.
The Road to Entrepreneurship
Singh’s entrepreneurial journey began with a beauty subscription service. This venture offered her a close look at the industry, thereby revealing the need for more localized products. This realization led to the establishment of SUGAR Cosmetics. The brand’s goal for 2023 includes a 100 percent year-on-year revenue growth, expansion to over 60,000 retail outlets, and an increase in team size to 3,000 employees.
Challenges and Gender Bias in Business
Starting a business is an arduous task, and it comes with its set of challenges. Singh stated that their biggest hurdle in the initial days was managing working capital, a common issue faced by many new ventures. Singh also experienced gender bias during her search for capital, a scenario that has considerably improved in the last 15 years due to a more inclusive entrepreneurial environment.
Managing Personal and Professional Life
Maintaining equilibrium between personal and professional commitments is a challenging feat. Singh recommends better organization and planning of the day to achieve the optimum balance. Additionally, setting aside ‘me-time’ and spending quality time with loved ones have been crucial elements in her balancing act.
Fitness and Productivity: An Interlinked Duo
Singh attributes her resilience and productivity to her commitment to fitness. She maintains that exercise combats lethargy and enhances her ability to perform her daily tasks more efficiently. Allocating a specific time for fitness in her daily schedule serves as a stress-reducing mechanism.
Women in Business: Breaking Stereotypes
The business landscape has seen a gradual increase in the representation of women, a change Singh appreciates. She believes that drive and determination are key traits in overcoming obstacles and achieving business objectives.
Singh’s Message to Aspiring Women Entrepreneurs
The essence of Singh’s message to women seeking success in business is centered around the importance of self-care. She encourages women to not only pursue their dreams relentlessly but also not to lose sight of their wellbeing in the process.