SUGAR Cosmetics Parent Company Vellvette Lifestyle Picks Up Majority Stake In ENN Beauty ENN Beauty's founder Nandeeta Manchandaa will continue to be the CEO as the brand targets crossing 100-plus crore in annualized sales in the next two years
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Vellvette Lifestyle, the parent company of SUGAR Cosmetics - one of the fastest-growing premium beauty brands of the country, has signed an agreement to pick up the majority stake in fast-growing natural skin and hair care brand – ENN Beauty.
Over the past three years, ENN Beauty has popularized natural and simple beauty hacks in innovative textures and pigments. Proud to be handmade in India, their array of natural products not only focus on providing personal rejuvenation but visibly effective results. ENN Beauty's founder, Nandeeta Manchanda will work closely with Vineeta Singh and Kaushik Mukherjee, co-founders of Vellvette Lifestyle Pvt. Ltd. that owns SUGAR Cosmetics, to accelerate the brand's online presence and enter the retail industry. This association will also help ENN Beauty in further strengthening and evolving its product range to suit a wider consumer group, said a statement.
"Over the past decade, the beauty industry has evolved and undergone a sequence of changes owing to the close attention brands are now paying to the evolving needs of the consumer. In today's day and age, consumers develop an affinity towards brands that not only sell a product to make them look beautiful, but also something that reflects their diverse personality and individuality. ENN Beauty has been on our radar for a while because of the exceptional work in terms of product curation and innovation. With this new association, we plan to take her brand to a new high and make them an Indian household favorite. Our target for ENN Beauty will be to help deploy our playbook of scaling SUGAR to grow ENN Beauty past the INR 100 crore annualized sales mark even faster," said Vineeta Singh, CEO and co-founder of SUGAR Cosmetics.
With this association, ENN Beauty will be able to leverage a digital audience of over 50-plus million beauty enthusiasts while it ramps up its retail presence to 100-plus outlets by the next financial year. The team will also look at restrategizing on the brand product's average selling point to make it more accessible and desirable to women.
"The partnership with Vellvette Lifestyle, is yet another step in our endeavor towards giving consumers access to the best in natural skin care. As India's own natural brand, ENN Beauty has always offered products that are fun, safe, naturally sourced and highly effective. The zest to reinvent age-old recipes and give it a modern twist along with Vellvette Lifestyle is a step towards endless possibilities. Our goal is to achieve this mark in the next two years and create products which are in harmony with nature," said Nandeeta Manchandaa, founder of ENN Beauty.
