Actor Ranveer Singh joins Indian startup story, invests in SUGAR Cosmetics

Bollywood actor Ranveer Singh is the latest to join Indian startup story by becoming an investor in beauty company, SUGAR Cosmetics. The financial details of the investment were not disclosed.

Singh's announcement comes close on the $50 million series D funds raised by the company in June this year.

"I have admired SUGAR’s ability to build a tremendous fan-following over the years and I’m excited to be a part of this journey and help the brand achieve its mission of providing Indian women access to premium & quality makeup products specially formulated for them," said Singh in a statement.

SUGAR Cosmetics started off as a D2C brand in 2015 that quickly ventured into offline trade in 2017. Today, the brand clocks annual sales of more than Rs 550 crore with a physical presence of 45,000+ retail touch points across more than 550 cities.

“We are delighted to have Ranveer on board as we look forward to reinforcing our brand connect with consumers. He is undoubtedly one of the most popular youth icons in the country and his unstoppable and clutter-breaking personality fits very well with the brand ethos of SUGAR. This will help supercharge our growth trajectory as we continue scaling SUGAR aggressively to build it into a large and much-loved makeup & beauty brand” said Kaushik Mukherjee, co-founder & COO, SUGAR Cosmetics.

Some of the investors backing SUGAR include L Catterton, A91 Partners, Elevation Capital and India Quotient.

Some of the other celebrities that have backed startups include actor Katrina Kaif who has investment in Nykaa. Actor Anushka Sharma has invested in and is also the brand ambassador for alternative meat brand Blue Tribe Foods. Actor Pankaj Tripathi has invested in agri tech platform Krishi Network. Alia Bhatt has invested in IIT-Kanpur incubated Phool among others.