Vellvette Lifestyle Pvt. Ltd., the parent company of SUGAR Cosmetics, has picked up a majority stake in ENN Beauty. This association is expected to further strengthen and evolve ENN Beauty’s product range. Post this stake acquisition, ENN Beauty’s founder Nandeeta Manchandaa will continue to be the CEO. The company plans to cross Rs 100 crore mark in annualised sales over the next two years. According to Vineeta Singh, CEO and co-founder, SUGAR Cosmetics, the beauty industry has evolved over the past decade 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,” she said.
“ENN Beauty has been on our radar for a while because of the exceptional work that Nandeeta has done in terms of product curation and innovation. With this new association, we plan to take her brand to a new high. Our target for ENN Beauty will be to help deploy our playbook of scaling SUGAR to grow ENN Beauty past the Rs 100 core annualised sales mark even faster,” Singh added.
For ENN Beauty, this association will help it reach a digital audience of over 50 million beauty enthusiasts, as well as ramp up its retail presence. The team will also look at re-strategising on the brand product’s average selling point to make it more accessible and desirable to women from tier-II and tier-III markets, SUGAR said in a statement.
“As India’s own natural brand, ENN Beauty has always put ‘YOU’ and your health first and has offered products that are fun, safe, naturally sourced, and highly effective. The zest to reinvent age-old recipes and give them a modern twist along with Vellvette Lifestyle Pvt. Ltd., 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 ‘YOU’ and nature,” Nandeeta Manchandaa, founder, ENN Beauty.