Sugar Cosmetics’ revenues to touch $20 mn in FY 2021

Sugar Cosmetics’ revenues are expected to reach $ 20 million in FY 2021, showing an annual growth rate of 85%. About 40-45% of the revenue hike is due to the pre-Covid-19 sales. In March, the company’s retail operations, logistics and new launches came to a standstill. However, from June, when restrictions were eased, there was a monthly hike in sales and more virtual consumer engagement. In November 2020, Sugar Cosmetics achieved 50% more revenue than its highest hike in pre-Covid-19 days. It kept adding to its retail outlets even during the lockdown and got a $2 million funding in October 2020.