Breaking barriers for women entrepreneurs, Vineeta Singh drove innovation and growth at Sugar Cosmetics when she was in her 20s. The CEO of SUGAR Cosmetics and a judge on Shark Tank India, Vineeta embodies the spirit of modern Indian entrepreneurship. However, her story begins far from the glamorous world of business television and beauty brands.
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She was born in 1983 into a family of academics in Delhi. Her father was a scientist at All India Institute of Medical Sciences (AIIMS) and her mother was a PhD holder. This verily instilled in her the value of knowledge and hard work from an early age. Completing her education at Delhi Public School, R. K. Puram in 2001, Vineeta instantly grabbed a seat in IIT Madras. By 2007, her quest for knowledge had shoved her to obtain an MBA from Indian Institute of Management Ahmedabad. During her time at IIT, Vineeta focused on academics and sports. She is a triathlete and ultramarathon runner, with an indomitable will that urged her to run a total of 21 km in 2:42:51s while being 6 months pregnant in 2018.
Despite receiving a lucrative job offer from Deutsche Bank worth Rs. 1 crore per annum after completing her MBA from IIM Ahmedabad. However, Vineeta made a decision that shocked many: she turned it down. Her conviction was simple yet profound. She wanted to create something of her own, something that would make a lasting impact on society. Her first venture in 2007, Quetzal, an e-commerce platform for premium beauty products, faced numerous challenges. It eventually had to be shut down. Initially, her expedition as an entrepreneur was loaded with ebbs and flows. Her second start-up Fab-Bag in 2012 was a subscription platform that provided monthly deliveries of beauty products.
SUGAR Cosmetics in 2015 marked Vineeta’s most significant achievement. It was co-founded by her husband Kaushik Mukherjee. Drawing from her experiences and understanding of the Indian beauty market, she built a brand that caters to Indian skin tones and weather conditions. In September 2022, Bollywood superstar Ranveer Singh invested in Sugar Cosmetics. He stepped into the role of brand evangelist, inspiring his fans to express themselves boldly and beautifully. Sugar Cosmetics aims to promote women’s leadership and inclusion in the workplace. The company has a workforce that is circa 70% women, and the majority of women are in leadership roles.
With prosperity, comes predicaments. In an interview with Business Today, Singh reveals the horrendous gender discrimination that she experienced. She disclosed that she received the funding solely on the condition that her husband joined the company full-time. However, these pitfalls never barred her from sailing towards her dreams. In 2023, Bollywood actress Kareena Kapoor Khan formed a joint venture with Singh and her husband to launch a Korean skincare brand Quench Botanics in India.
Her entrepreneurial success gained momentum in 2019 when she received the Start-up of the Year award from the Entrepreneur Awards. The year 2021 proved particularly significant as she garnered multiple honors including the W-Power Award from Forbes India and recognition in 40 Under 40 lists of Business World and Fortune. In 2022 she was included in the World Economic Forum’s Young Global Leadership list. She became a household name after her appearances on Shark Tank India. She joined the show in Season 1 which began airing on SonyLIV in 2021 and continued to appear in Seasons 2 and 3.
As of 2024, Vineeta Singh’s net worth is circa Rs. 300 crore or $3 million. This impressive financial milestone is a testament to her entrepreneurial acumen and the phenomenal success of her brand, Sugar Cosmetics.
What sets Vineeta apart is not just her business acumen but her commitment to promoting women’s empowerment through entrepreneurship. Her story continues to inspire a new generation of entrepreneurs who believe in the power of perseverance, innovation, and staying true to one’s vision despite challenges.