Sugar Cosmetics chases ₹100-150 cr lifeline at half its 2022 valuation as offline bet sours
The colour cosmetics challenger is sounding out family offices and HNIs for a ₹100-150 cr round at ₹1,400-1,500 cr — roughly half its 2022 peak. FY26 revenue has slipped to ~₹380 cr from ₹504 cr in FY24, GT/MT footprint has been halved, and FY25 losses widened to ₹133.7 cr even as Purplle, Nykaa and Mamaearth tighten the squeeze.
What happened
Sugar Cosmetics is raising ₹100-150 crore rescue funding at a halved ₹1,400-1,500 crore valuation from family offices and HNIs after aggressive offline
Key facts
- ₹100-150 crore raise
- valuation ₹1,400-1,500 crore
- down from ₹3,000 crore peak (2022)
- FY26 revenue ~₹380 crore
- FY25 revenue ₹397.7 crore
- FY24 revenue ₹504 crore
- FY25 loss ₹133.7 crore
- FY24 loss ₹67 crore
- 45,000 retail outlets
- 550 towns
- 200+ brand stores
- GT/MT footprint halved
- bottom line improved ₹90-95 crore
Why this matters
Sugar's distress at half its 2022 mark opens a window for Nykaa, Purplle or a strategic FMCG acquirer to absorb a top-5 colour cosmetics brand at a fraction of peak — diligence the brand equity and D2C cohort before the next bridge closes.