The Mumbai-based beauty and personal care company recorded one of its worst years in the 2024-25 fiscal. It is now on a course-correction trajectory.
It has been a rough 18 months at SUGAR Cosmetics.
In a first, and what is perceived as one of the graver startup sins, the Mumbai-based beauty and personal care company will be declaring a drop in its annual revenue for the year ended March 2025. Its losses also show an expansion, and the overall financials paint the picture of a company that has struggled to grow and rein in the costs.
Kaushik Mukherjee, co-founder and chief operating officer at SUGAR, confirmed to The Morning Context that the company has registered a decline. “The numbers are going to look bad. …
Harveen is a co-founder at The Morning Context, and leads our coverage in the Middle East. She has previously worked as a media, consumer and tech writer at The Ken and Mint. At The Morning Context, she writes on tech, venture capital, consumer and media businesses across India and Gulf—from e-commerce to healthtech to streaming.
Co-Founder & Editor, Middle East
harveen@mailtmc.com
Dubai
Muskaan covers startups at The Morning Context. She has earlier written for Global Pets International, National Geographic Traveler India among other publications.
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Delhi