Actor Ranveer Singh has invested in beauty brand Sugar Cosmetics, a statement issued by the company said. The statement said Singh will “play the role of brand evangelist and build connect across key markets.” The investment is expected to fuel Sugar’s expansion in other potential markets.
Singh’s investment comes soon after a $50 million Series D fundraise in the start-up, led by consumer-focused private equity firm L Catterton.
Sugar Cosmetics co-founder Vineeta Singh said in the statement: “Ranveer’s personality of being bold, quirky, and vibrant makes the partnership a natural fit.”
Sugar Cosmetics, which started off as a D2C brand in 2015, ventured into offline retail in 2017, and has annual sales of over Rs 550 crores, the company said.
The beauty startup has been named as a case study at the Indian Institute of Management Ahmedabad (IIM-A) Case Centre, the company’s chief operating officer Kaushik Mukherjee posted on LinkedIn.