Woman Who Rejected $1 Million Salary Job to Start Own Business Now Owns Company Worth Rs 4,000 Crore
Mumbai: A young entrepreneur's courageous decision to turn down a lucrative job offer has paid off in a big way. Vineeta Singh, a graduate of the Indian Institute of Management Ahmedabad and Indian Institute of Technology, Madras, co-founded Sugar Cosmetics with her husband Kaushik Mukherjee.
Despite receiving a salary offer of Rs 1 crore during her time at IIM, Singh chose to pursue her entrepreneurial dreams, rejecting the conventional appeal of a corporate career. Her first business venture was in the lingerie industry, but it struggled due to limited funding and lack of experience. Undeterred, she shifted gears to a background verification service and eventually pivoted to the beauty sector.
The turning point came in 2012 when Singh co-founded Sugar Cosmetics with her husband, with a mission to make high-quality beauty products accessible to young people. The venture has since grown exponentially, and the company is now valued at approximately Rs 4,000 crore, making it one of India's fastest-growing beauty brands.
"We have created distribution networks in over 540 cities and partner with more than 35,000 branded retail outlets across India," Singh said in an interview. "Our aim is to help every Indian woman find a favourite product and inspire them to start their own entrepreneurship journey."
Singh is no stranger to challenges. She initially struggled to make friends as the only daughter in her family and faced skepticism from potential buyers when selling her first magazine at the age of 10. However, these experiences shaped her early understanding of business and finance.
As a serial entrepreneur, Singh has navigated multiple ventures, including a lingerie brand, background verification service, and FAB Bag. Her passion for running has also played a significant role in shaping her limit-pushing spirit, which she attributes to triathlons and ultramarathons.
Singh is now an alumnus of the popular reality TV show Shark Tank India, where she became one of the sharks, adding value to entrepreneurs looking for investment opportunities.
"Vineeta's story is a testament to her perseverance and entrepreneurial spirit," said Ritesh Sidhwani, one half of the co-founders of Balajis Cinemas - now Balajis. "She should be an inspiration to many young Indians who are thinking about starting their own businesses."