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Vineeta Singh is one of the most popular women in India. She is the CEO of Sugar Cosmetics and one of the judges or 'sharks' in the reality show Shark Tank. None of this came easy to her. In fact, her story is one of inspiration. Here's her story.
Vineeta Singh was born in Delhi in 1983. Her father, Tej Singh, is a scientist at All India Institute of Medical Sciences (AIIMS), Delhi, while her mother worked at the Indian Council of Medical Research (ICMR), Delhi. She completed her education from the Delhi Public School, R.K. Puram. It was there, when she was 17 years old, that she decided what she wanted to do in life. She credits her decision to one of her teachers, who suggested that Vineeta become an entrepreneur. From that day onward, Vineeta made it her goal.
A studious girl from the very beginning, she studied really hard and successfully got into IIT, Madras. She graduated with a degree in Electrical Engineering in 2005. After which, she pursued her MBA at IIM Ahmedabad.
With education from such prestigious institutes, it's only natural that Vineeta received good offers for work. She revealed that one of the offers she turned down was for a salary of INR 1 Cr. But Vineeta was firm - She wanted to start her own business. Even the questions and disappointment from her friends and family did not deter her. She was steadfast in her decision.
With a head full of dreams, at 23 years, Vineeta moved to Mumbai. The city of dreams was initially not kind to her. Like many other youngsters, she too struggled to make ends meet. She said, "I lived in a tiny house which flooded easily. I'd hardly go out because I was on a budget. But I pushed on." In Mumbai, Vineeta gave wings to her dream of entrepreneurship. However, her first business did not do well. Vineeta recalls this being the first time she wondered if she made the right decision turning down the 1Cr. job offer. After all, she would be doing very well with that kind of money. To deal with the self-doubt, Vineeta took up running as a sport. She believes that it helps her clear her head. Today, the sport plays a significant role in her life. In fact, she once ran a marathon while six months pregnant.
A year after her first failure, she gave entrepreneurship another chance with Fab Bags subscription service. While researching for the brand, she realised India's lack of quality cosmetics. Thus, in 2015 Sugar was born.
From being rejected by investors to gaining funding, she worked hard to get Sugar cosmetics where it is, all while taking care of two kids. Today, the company's net worth is around 300 Cr. Incredible, right? She has been featured in Fortune 40 Under 40 List 2021, The Economic Times, Entrepreneur magazine, Times Of India, YourStory, HT Mint, and much more. In addition to Fab Bags and Sugar Cosmetics, Vineeta has invested in Skippi Ice Pops and CosIQ, all of which are highly profitable. She also charged INR 5 Lakhs to appear as a Shark for each Shark Tank Episode. Join Glow & Lovely Career's (formerly known as Fair and Lovely Career Foundation)Sheroes Community of Inspirational Women to know more such stories.