Sugar Cosmetics reported a 17.8% drop in revenue for FY25, with net revenue falling to Rs 415 crore as of March 31, 2025, down from Rs 505 crore in the previous fiscal year, according to The Arc.
The D2C beauty brand’s EBITDA fell to a negative Rs 108 crore, with margins slipping to -26%, highlighting pressure on profitability amid slower growth and rising expenses.
In FY25, the Vinita Singh and Kaushik Mukherjee-led company raised Rs 41 crore (around $5 million) in equity funding led by Anicut Capital, alongside Rs 15 crore in debt from Stride Ventures.
Last month, Sugar partnered with Myntra to launch Molten, a Gen Z–focused beauty line aimed at strengthening its digital-first strategy. The brand currently operates through thousands of retail touchpoints and 200 exclusive stores across 50 cities, with online channels contributing roughly 40% of total sales.
According to Tracxn, Sugar Cosmetics was valued at Rs 2,943 crore (around $350 million) as of January 2025. Its major investors include A91 Partners, Elevation Capital, L Catterton, and India Quotient.
