By Shivani Panjwani –
THE D2C QUEEN – VINEETA SINGH
The art of selling a branded product online directly to the customer cutting the supply chain management hassle is known as D2C, which means directly to consumers. Vineeta Singh, the Co-Founder and CEO of Sugar Cosmetics, is known as the D2C Queen. Currently, her Net worth is about $8 Million.
Vineeta and her Early Life !
Vineeta Singh was born in 1984 at Anand (a small city), in Gujrat India, during her childhood she use to stay with her maternal grandparents at Bhavnagar. Vineeta’s parents were Ph.D. doctors, and since childhood, she had an aim of doing something big with a world-class image. She was very much inspired by both her parents and completed her graduation from IIT Madras in Electrical Engineering, and after that went to IIM Ahmedabad. Post that she got a job offer of Rs. 1 Cr. from investment banking. But since childhood she always had a fear and that was avoiding failures, “main woh hi sport khelti thi jis mein mujhe pata tha main aval number aa sakti hu, I can win gold in it”, she also had this institution within her that the fear of avoiding failure will soon come and she has to overcome it.
Foundation of Sugar Cosmetics !
At the age of 23, she left her 1 crore job and came back to Mumbai and started thinking about the ideas of start-ups that she wants to work on. Initially, she started a company where they use to do background verification for the companies and get paid out of it. But always faced a common challenge everywhere – excessive competition and lack of experience in comparison to others. After that, she started thinking that in India, buying of cosmetics is very orthodox, people go to malls, try cosmetics there and then buy it, and big brands cosmetic players doesn’t have those colors which suit on Indian common women, and market those colors and shades which looks good only on some big celebrities. This thought triggered Vineeta’s mind and Sugar Cosmetics was born. The feedback she got directly from the customer on the social media platform using a Sugar Lipstick was overwhelming. Gradually, word-of-mouth publicity took Sugar cosmetics to the level where we see it today. Without spending crores of money on marketing, their core was to give the best product to the consumers at an affordable price. This USP made her win the battle and she is now the Queen of this segment.
Vineeta as one of the Sharks in Shark Tank India 2022 !
Recently she was also one of the Sharks in the reality show Shark Tank India, over there she invested around 3.04 crore and made 15 deals in the show. The best steal deal she did on the show was with Booz Scooters, invested 40 Lakhs and took 50% stake in the company along with Ashneer Grover (Founder and Managing Director of BharatPe).
Message to the budding Entrepreneurs !
“Think big, be ambitious, don’t fear failures, failures are the stepping stones towards success. Start with the problem which you are personally facing in real-time in your everyday life, start the business in which you have passion for and in that you can make a world-class company in it. Learn from failures, bounce back, overcome and just bang and you will get your perfect product and also perfect consumers for the same. Think big, aim for starts and reach the moon, because as well said as always SKY IS THE LIMIT”.
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