Moneycontrol PRO
Upcoming Event:Attend Algo Convention Live, 2 Days & 12+ Speakers at best offer Rs.999/-, exclusive for Moneycontrol Pro subscribers. Register now!
you are here: HomeNewsTrends

Shark Tank judge's first business idea that ‘never saw light of the day’

In a recent LinkedIn post, Vineeta Singh reflected on the difficulties she encountered while on her entrepreneurial journey.

April 29, 2022 / 08:38 AM IST
Vineeta Singh is the CEO and co-founder of beauty brand SUGAR Cosmetics. (Image credit: Twitter/@vineetasng)

Vineeta Singh is the CEO and co-founder of beauty brand SUGAR Cosmetics. (Image credit: Twitter/@vineetasng)

Vineeta Singh, the chief executive officer of beauty brand SUGAR Cosmetics, knows the struggle of building a business all too well.

In a LinkedIn post on April 28, Vineeta Singh, who was a judge on startup reality show Shark Tank India, reflected on the challenges of creating something for women as a woman entrepreneur.

Singh revealed in her post that SUGAR Cosmetics was not her first business idea.

"Fifteen years back when I first thought of starting up, I wanted to start a lingerie business," she added. "While that business plan never saw the light of day, in all my interactions with industry experts and venture capitalists, I realized something."

 

Close

Read: Meet Shark Tank India judge who lived in 'matchbox house', ran marathon when pregnant

 

 

"It doesn’t matter whether that’s what you face while pushing for excellence in your career, building a startup or surviving work-life balance - the struggle is real," she continued. 'And we’ll embrace it. And we’ll tame it."

The SUGAR Cosmetics CEO said over the last seven years, her company had overcome many challenges, stereotypes and biases.

"After all that has flown by and all that is yet to manifest, I have learnt that the best way to give back is to pay it forward - and to share real stories of what it’s been like starting to build SUGAR - way before D2C was cool," she added.

Singh, an alumnus of the Indian Institute of Management in Ahmedabad, had turned down a lucrative job offer to start her own venture.

She moved to Mumbai at 23 and lived in a small house on a tight budget.

“My savings were diminishing; I’d hardly ever go out because I was on a strict budget," she had told Humans of Bombay in January. "But I pushed on. I even started a venture, but it didn’t work as planned. After a year, I felt brave enough to give entrepreneurship another shot with Fab Bag, a beauty subscription company. But after research, I realised the need for quality cosmetics for Indian women–that’s how Sugar Cosmetics was born."

Singh's company, with a 1,500-plus workforce, now brings in nearly Rs 350 crore every year. But there was a time when investors would not even meet her.

“Once, an investor refused to hold a meeting just with me. He wanted to have the business talk with a man," Singh had told Humans of Bombay. "But I decided to let my work do the talking."

 



Download your money calendar for 2022-23 here and keep your dates with your moneybox, investments, taxes

Moneycontrol News
first published: Apr 29, 2022 08:36 am
Sections
ISO 27001 - BSI Assurance Mark