Success Story: Quit a Rs crore job, lived on Rs 10,000 a month, now owns a Rs 4,000 crore empire
The fourth season of Shark Tank India is all set to start on January 6, 2025, and one of the key judges on the panel is Vineeta Singh. Today, Vineeta is a household name, not only as the founder of Sugar Cosmetics but also as a judge on Shark Tank India. His journey so far has not been easy. While his success and many criminal enterprises are known to all, the struggles and hard work that followed his success are often overlooked. Vineeta has built a business worth around Rs 4000 crore, and her story is an inspiring example of determination, dedication, and smart decision making. Let’s take a closer look at his journey and how he achieved this remarkable change.
From Gujarat to Mumbai: The Inspirational Journey of Vineeta Sing
Vineeta Singh was born in Anand, Gujarat, but spent most of her childhood with her grandmother in Bhavnagar. During this time, his father, who is a doctor, got an opportunity to work at AIIMS in Delhi, so the whole family moved there. Delhi became Vineeta’s new home. She is the only daughter of her parents, and at first, she faced some challenges in making friends. However, like any child, he eventually found his circle of friends. Vineeta shares that when she started her company in Mumbai, three of her co-founders were from the city, which led her to decide to move to Mumbai.
Entrepreneurial debut: At just 10 years old, Vineeta Singh started her first business
While most 10-year-olds play with dolls, Vineeta Singh was learning the basics of business. At that time when he was young, he and his friend started a small magazine. They went from door to door selling it for just three rupees, but people often said that the magazine was too expensive. This was Vineeta’s first experience with money, and it made her realize how important and valuable it is, a lesson she had not fully understood before.
From IIT-IIM to entrepreneurship: Vineeta Singh Left Rs 1 crore pocket for her passion
Vineeta Singh always shone in her studies. He completed his studies at IIT Madras and IIM Ahmedabad. While at IIT, he preferred sports that had a low chance of failure and set goals based on what seemed easiest to succeed at. During his IIM placement, he applied for investment banking because it seemed like an easy path to success. Throughout his studies, he read many books and had the desire to start his own company. So, when he got a package of Rs 1 crore from IIM, he turned it down at the age of just 23 to follow his passion for entrepreneurship and build his own business.
At the age of 23, Vineeta Singh started her first business and faced huge failures
Considering the magazine as her first venture, Vineeta started her second venture when she was only 23 years old. Her idea was to create a women’s underwear brand and grow it through e-commerce. To build a big business, he needed a lot of money, so he went to 10-12 investors to get funding. However, he faced rejection everywhere because he had no business experience. After this, he decided to start a business that did not need external funding and could be built using the bootstrap method.
Worked for a service company for 5 years with a salary of just Rs 10,000: Vineeta Singh’s story of struggle
After her first venture failed, Vineeta Singh started a service company, where she provided background verification services to clients. Though he once rejected a package of Rs 1 crore, he took a salary of Rs 10,000 this time. With his determination, he managed the company for five years and increased the revenue to Rs 4-5 crore. However, he eventually realized that this model would not help him build a big business. With this realization, he decided to close the company and move on to something bigger.
She started ‘Sugar’ with her husband: Vineeta Singh’s journey to build a leading brand
In 2012, Vineeta Singh, along with her husband Kaushik Mukherjee, started Sugar Cosmetics. During his research, he noticed that many brands were creating expensive products aimed at wealthy customers. Vineeta decided to make products that are affordable and appeal to young people. She focused on understanding the makeup needs of women and realized that makeup makes women feel strong and confident. By offering high-quality products at budget-friendly prices, Sugar quickly gained popularity. Word spread organically, and without spending much money on advertising, Vineeta’s company grew rapidly, becoming a trusted name in the cosmetics industry.
Vineeta’s father kept her away from the kitchen, and she cannot make perfect round rotis
Vineeta Singh’s father always discouraged her from working in the kitchen when she was young. He believed that his daughter should have big ambitions in life. Coming from a poor family himself, he had worked hard and made it to AIIMS because of his good education. He wanted Vineeta to focus on her studies and aim for something bigger, just like she did.
When Vineeta Singh first heard the word ‘Entrepreneur’
When Vineeta Singh was 17 and headed to IIT, one of her professors asked her about her goal in life. He replied that he wanted to be rich. His professor suggested, “Then become an entrepreneur.” It was the first time Vineeta heard the word “entrepreneur,” but today she has become one.
Vineeta met her founders during her time at IIM Ahmedabad. This is where she also met her husband, Kaushik Mukherjee, who was her youngest child. Their common interests and their frequent conversations brought them closer together, leading them to start their journey together.
From 1RK on Rs 5000 Rent to Rs 4000 crore empire: Vineeta Singh’s journey is amazing
Today, Vineeta Singh owns an apartment in Powai, Mumbai, which is one of the most expensive areas of the city. But his journey was not easy. In his early days, he lived in a small rented house in Powai. It was a small 1RK (one room and kitchen) flat with a monthly rent of Rs 5000.
