Vineeta Singh’s Journey : Rejected by 100 VC, made a company worth over 500 crore "Sugar cosmetics"
Women entrepreneurs are always thought to be less important but now the environment has been changing. Some women entrepreneurs contributed to this change and faced hurdles throughout their journey of proving themselves. They contested social, cultural and family pressures to challenge the status quo in Indian society. But now they are also empowering other women while providing innovative solutions to major social problems. Vineeta Singh is a true example of such entrepreneurs. Vineeta Singh, the co-founder and CEO of SUGAR Cosmetics, is a beacon of inspiration for aspiring entrepreneurs, especially women across India and the world. She is the calmest emphatic judge of Shark Tank India.
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Early Life and Education
Vineeta was born in Anand, Gujrat and she was the only child of her parents. Her parents are doctors and they moved to Delhi when they got the job. She met new friends and learned about the value of money and other things. She says she sold magazines for 3 rs when she was 10 years old. From childhood, she used to be scared of failing, always trying where she could win. Vineeta exhibited exceptional academic prowess from an early age, earning gold medals throughout her schooling and college years. Her academic excellence led her to the esteemed IIT Madras where she completed B.Tech in 2005.
Later, she pursued her MBA at Indian Institute of Management Ahmedabad in 2007.After completing her studies at 23, she got a job for 1 crore. Despite receiving a lucrative offer in investment banking, she rejected a job offer and decided to start his own business. However, initially, she faced so many rejections and failures while finding investors. They used to reject her because she had no background or experience in business. Vineeta had to face rejection from over 100 venture capitalists when she was trying to raise funds.
In the end, she decided to start a bootstrap company, for this venture a business named Quetzal, which focused on background checks, she hardly used to earn 10 thousand from it. The venture failed to take off. Undeterred, she co-founded Fab-Bag, a beauty subscription service that enjoyed moderate success but ultimately did not align with her true calling. These initial setbacks served as invaluable lessons, enriching her understanding of the market and her own capabilities.
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Vineeta Singh Husband and co-founder
In 2007, they started dating Kaushik Mukherjee who later became her husband in 2011. Kaushik was his junior at IIM Ahmedabad. The couple has 2 children. Vineeta often talks about her relationship with her husband and says he is always the supporting pillar behind her.
The Birth of SUGAR Cosmetics
In 2015, with experience and a definitive vision, Vineeta, alongside her husband Kaushik, launched SUGAR Cosmetics. They recognised a gap in the Indian beauty market for products catering to diverse skin tones and preferences. They launched SUGAR offering vibrant, high-quality cosmetics at affordable prices. The brand struck a chord with young Indian women, and its digital-first approach swiftly garnered a dedicated following.
The brand soon became popular due to its good products and targeting an independent woman approach. SUGAR Cosmetics' success reflects Vineeta's commitment to fostering a company culture that prioritises women's empowerment. The company’s 75% of its workforce is female. She is also a vocal advocate for diversity and inclusion within the beauty industry. Under her leadership, SUGAR has consistently innovated, keeping abreast of evolving trends and consumer preferences.
Vineeta Singh Net worth
Vineeta has a net worth of over Rs 300 crore and the worth of her company Sugar Cosmetics is around $500 million. Her husband Kaushik Mukherjee's valuation is at $500 million. The family lives in a luxurious apartment in Mumbai's Powai area. Vineeta says her eight-year-old son is her go-to person for life advice and describes herself as passionate, emotional, and gritty.
Her golden rule for staying ahead in life and business is to do something you love. She believes that passion leads to dedication and excellence. Vineeta's journey took a turn with her role as an investor on the famous Indian reality show "Shark Tank India". Her feedback, empathetic approach, and readiness to champion innovative ideas resonated with audiences worldwide. She is a role model for budding entrepreneurs, particularly women, showcasing that ambition and perseverance can lead to remarkable success.
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