India, Nov. 12 -- Beauty ecommerce brand SUGAR Cosmetics' sales surpassed the INR 500 Cr mark in the financial year 2023-24 (FY24) with more than a 20% jump on a year-on-year (YoY) basis.

The Vineeta Singh-led cosmetics brand posted INR 505.1 Cr in revenue versus INR 420.3 Cr in FY23. However, the increase was much lower compared to the significant 89% jump in sales last year.

SUGAR generates revenue by selling a range of cosmetics and beauty products - lipsticks, nail polishes, various makeup products, as well as skin care products such as moisturisers and sunscreens.

On the back of the growth in sales and improvement in margins, the startup's net loss narrowed 11.3% to INR 67.6 Cr in FY24 from INR 76.2 Cr in the previous fiscal year....