Sugar Cosmetics to raise Rs.150-Cr from A91 Partners at a 85% drop in valuation

Mumbai-based beauty brand Sugar Cosmetics is to raise between INR 140-Cr and INR 150-Cr in fresh capital from existing investor A91 Partners. The transaction follows a valuation of about INR 500-600 Cr, marking a decline of more than 80% from the company’s previous peak valuation of INR 3,000-Cr four years ago.Sugar Cosmetics operates as a beauty and personal care brand. The company intends to use the capital to address current financial pressures, including mounting losses and declining revenues, while managing the operational challenges associated with its recent aggressive offline retail expansion.