ALL

Industry & Competitive Context India's colour cosmetics market sits within a broader beauty and personal care category that is structurally complex, aspirationally intense, and historically dominated by multinational incumbents. At the time SUGAR entered the market, the category was defined by two dominant competitive tiers. At the mass-market end, brands like Lakme — a Hindustan Unilever property — and Maybelline held significant shelf presence through traditional retail dis