SUGAR Cosmetics Co-Founder Vineeta Singh Addresses Valuation Cut: "Picture Abhi Baaki Hai Mere Dost"

SUGAR Cosmetics co-founder Vineeta Singh has opened up about the future of the beauty company after its latest funding round came in at a significantly lower valuation than previous rounds, prompting media speculation about the company's trajectory. In an Instagram post, Singh addressed messages from customers, partners and friends who had expressed concern over the valuation decline. She said the media's job was to tell the most compelling version of every story, adding that both praise and criticism come with public success, and that the brand had received its share of both over the years. Addressing the fundraising directly, Singh acknowledged that SUGAR had raised a large round at a lower valuation, saying she and co-founder Kaushik Mukherjee remained focused on building the company. She said further financial details would be shared later, closing her message with the now widely shared line, "Picture abhi baaki hai mere dost." She also encouraged her employees to stay focused on execution. SUGAR Cosmetics recently raised around Rs 144.5 crore from existing investor A91 Partners, valuing the company between Rs 550 crore and Rs 600 crore — a steep decline from its November 2024 valuation of around Rs 2,600-2,700 crore. The correction comes amid pressure on the company's financials, with FY25 operating revenue falling around 20% to Rs 404.4 crore and net loss widening to Rs 135 crore.