Sugar Cosmetics seeks ₹100-150cr as valuation falls to ₹1,400-1,500cr
Sugar Cosmetics, a Mumbai-based beauty brand, is hoping to raise ₹100 to ₹150 crore after six tough months of financial strain.
Its valuation has dropped sharply, from ₹3,000 crore in 2022 to about ₹1,400 to ₹1,500 crore in the fresh fundraise.
The company has been dealing with falling revenue and more employees leaving than usual.
Sugar Cosmetics FY26 revenue ₹380cr
Revenue for FY26 slipped to ₹380 crore, so promoters have stepped in to help pay salaries.
Sugar has cut back by closing stores and ending expensive distributor ties, moves that boosted its bottom line by nearly ₹95 crore.
With the new funds, it plans to focus on high-growth products and smaller markets while tightening up pricing.
Competing with brands like Nykaa and Renee, Sugar is adapting as India's beauty market heads toward $40 billion by 2030.
Founded in 2012, it is known for cruelty-free products across 45,000 retail outlets nationwide.