Success Story: She quit Rs 1 crore job, lived on Rs 10,000 a month, now owns Rs 4,000 crore empire

The fourth season of Shark Tank India is all set to start on January 6, 2025, and one of the key judges on the panel is Vineeta Singh. Today, Vineeta is a well-known name, not just as the co-founder of Sugar Cosmetics but also as a judge on Shark Tank India. Her journey to this point hasn’t been easy. While her success and multi-crore business are known to all, the struggles and hard work behind her achievements often go unnoticed. Vineeta has built a business worth nearly Rs 4000 crore, and her story is an inspiring example of determination, dedication, and smart decision-making. Let’s take a closer look at her journey and how she reached this remarkable turning point.

From Gujarat to Mumbai: The inspiring journey of Vineeta Singh

Vineeta Singh was born in Anand, Gujarat, but she spent most of her childhood with her grandmother in Bhavnagar. During this time, her father, a doctor, got the opportunity to work at AIIMS in Delhi, so the entire family moved there. Delhi became Vineeta’s new home. She is the only daughter of her parents, and at the start, she faced some challenges in making friends. However, like any child, she eventually found her circle of friends. Vineeta shares that when she started her company in Mumbai, three of her co-founders were from the city, which led her to decide to move to Mumbai.

Early entrepreneur’s journey: At just 10, Vineeta Singh started her first business

While most children at the age of 10 were playing with dolls, Vineeta Singh was already learning the basics of business. At that young age, she and a friend started a small magazine. They would go door-to-door selling it for just 3 rupees, but people often said the magazine was too expensive. This was Vineeta’s first experience with money, and it made her realize how important and valuable it is, a lesson she hadn’t fully understood before.

From IIT-IIM to entrepreneurship: Vineeta Singh Left Rs 1 crore package for her passion

Vineeta Singh was always bright in her studies. She completed her education at IIT Madras and IIM Ahmedabad. While at IIT, she preferred sports that had a low chance of failure and set her goals based on what seemed easiest to succeed in. During her IIM placement, she applied for investment banking because it appeared like the easiest path to success. Throughout her studies, she read many books and dreamt of starting her own company. So, when she received a Rs 1 crore package at IIM, she turned it down at just 23 years old to follow her passion for entrepreneurship and build her own business.

At 23, Vineeta Singh started her first business and faced huge failure

When we look at the magazine as her first business, Vineeta started her second business at just 23 years old. Her idea was to create a lingerie brand for women and grow it through e-commerce. To build a large business, she needed a lot of money, so she went to 10-12 investors to seek funding. However, she faced rejection everywhere because she had no experience in the business. After this, she decided to start a business that didn’t require external funding and could be built using a bootstrap approach.

Ran a service company for 5 years with just Rs 10,000 salary: Vineeta Singh’s struggle story

After her first business failed, Vineeta Singh started a service company, where she provided background verification services to clients. Despite once turning down a Rs 1 crore package, she took a salary of just Rs 10,000 during this time. With her determination, she ran the company for five years and grew its revenue to around Rs 4-5 crore. However, she eventually realised that this model wouldn’t help her build a large-scale business. With this understanding, she decided to shut down the company and move on to something bigger.

Started ‘Sugar’ with her husband: Vineeta Singh’s journey to building a leading brand

In 2012, Vineeta Singh, along with her husband Kaushik Mukherjee, started Sugar Cosmetics. During her research, she noticed that most brands were creating expensive products targeting wealthy customers. Vineeta decided to create products that were affordable and appealed to young people. She focused on understanding women’s makeup needs and realised that makeup made women feel powerful and confident. By offering high-quality products at budget-friendly prices, Sugar quickly gained popularity. Word spread organically, and without spending much on marketing, Vineeta’s company grew rapidly, becoming a trusted name in the cosmetics industry.

Vineeta’s father kept her away from the kitchen, and she still can’t make perfect round rotis

Vineeta Singh’s father always discouraged her from working in the kitchen when she was a child. He believed that his daughter should have big ambitions in life. Coming from a poor family himself, he had worked hard and reached AIIMS because of his good education. He wanted Vineeta to focus on her studies and aim for something big, just like he did.

When for the first time Vineeta Singh heard the word ‘Entrepreneur’

When Vineeta Singh was 17 and heading to IIT, one of her professors asked her about her goal in life. She replied that she wanted to be rich. Her professor suggested, “Then become an entrepreneur.” It was the first time Vineeta had heard the word “entrepreneur,” but today, she has become one herself.

Vineeta met her co-founders during her time at IIM Ahmedabad. It was also there that she met her husband, Kaushik Mukherjee, who was her junior. Their shared interests and frequent conversations brought them closer, which led them to start their journey together.

From 1RK with Rs 5000 Rent to Rs 4000 crore empire: Vineeta Singh’s journey is incredible

Today, Vineeta Singh owns an apartment in Powai, Mumbai, one of the city’s most expensive areas. But her journey wasn’t easy. In her early days, she lived in a small rented house in Powai. It was a tiny 1RK (one room and kitchen) apartment with a monthly rent of Rs 5000.