Vellvette Lifestyle picks up majority stake in ENN Beauty
In an aggressive start to 2022, Vellvette Lifestyle Pvt. Ltd., 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 & hair care brand – ENN Beauty.
Over the past three years, ENN Beauty has redefined the ingredient-led skin & haircare category by popularizing 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 Indian Millennials & Gen Zs, targeting a wider consumer group.
Besides the onset of a pandemic, the Indian beauty industry has been remarkably growing. According to the RedSeer report, the beauty and personal care industry in 2020 was valued at $16B and expected to grow at a 12% per annum to $28B by 2025. Just the past two years has witnessed an explosion in high-quality beauty & skincare products at a value-for-money range, higher exposure to social media trends, affluence among India's young and accessibility to new-age brands that have helped expand demand for both local and foreign brands.
Vineeta Singh, CEO & Co-founder of SUGAR Cosmetics said, “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 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 and make them an Indian household favourite. Our target for ENN Beauty will be to help deploy our playbook of scaling SUGAR to grow ENN Beauty past the Rs.100 CR annualized sales mark even faster.”
With this association, ENN Beauty will be able to leverage a digital audience of over 50+ million beauty enthusiasts while it ramps up its retail presence to 100+ outlets by the next financial year. The team will also look at re-strategizing on the brand product’s average selling point to make it more accessible and desirable to women from Tier 2 and Tier 3 markets as well.
“The partnership with Vellvette Lifestyle Pvt. Ltd., that owns SUGAR Cosmetics, is yet another step in our endeavour towards giving consumers access to the best in natural skin care. 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 it 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.” added Nandeeta Manchandaa, Founder of ENN Beauty.