Mumbai: Co-founder and CEO of SUGAR Cosmetics, Vineeta Singh, who is one of the judges on the business reality show ‘Shark Tank India 2’, recently pitched her cosmetic brand to fellow judges with her husband Kaushik Mukherjee, and finally managed to get an investment of Rs 5 crore from all the sharks.
During the show, she talked about how the beauty industry is expanding in the country, and also as women are becoming more independent their choices for cosmetics are also changing.
She also added about how society puts so much pressure on girls and how they look.
However, as they have started working out, many things are changing.
She further shared how for the past 10 years her company is going through a tough time.
Vineeta and her husband Kaushik pitched their idea by talking about their brand and how it is suitable for Indian skin tones. They also spoke about the brand and how it struggled to reach this level after going through various ups and downs.
Finally, the couple asked for an investment of Rs 1 crore for 2 per cent equity.
Kaushik also told the sharks that initially they wanted to name the brand ‘Kickass cosmetic’ but later thought of ‘SUGAR’.
The sharks were impressed with their business idea and how they managed to survive after knowing about their difficult times and the way they are trying to earn profits despite all the adverse situations.
At last, all the sharks offered a deal of Rs 5 crore for 5 per cent equity to Vineeta.
‘Shark Tank India 2’ is judged by Anupam Mittal (Founder and CEO of Shaadi.com – People Group), Aman Gupta (Co-founder and CMO of boAt), Peyush Bansal (Founder and CEO of Lenskart.com), Namita Thapar (Executive Director of Emcure Pharmaceuticals), and Vineeta Singh (Co-founder and CEO of SUGAR Cosmetics), and Amit Jain (CEO and Co-founder of CarDekho Group and InsuranceDekho.com).
IANS