The Early Life of Vineeta Singh
Vineeta Singh is the only child of her parents. She was born in the year 1983 in a small village in Gujarat named Anand. Before she used to live with her maternal grandmother in Bhavnagar which is also located in Gujarat only. Then her parents moved to Delhi she also shifted with them as her dad got an opportunity in AIIMS and her mom in ICMR for research as they both were Ph.D. holders. She studied at Delhi Public School, R.k Puram, Delhi. As she was the only child she faces a lot of problems after shifting to Delhi for making friends and interacting with others, it was a very different experience for her because she had no siblings at her home to talk to. That’s why she had to face a lot of difficulties in making friends.
Vineeta used to spend most of her time with her own ideas and with her best friend. When she was 10 years old, she and her friend made a magazine that they sell door to door for Rs.3. It was a very challenging task for them, Vineeta told that it was the time she understand the value of Rs.3 and how difficult it is to earn money. She was a scholar student at her school from the beginning so it was very quite simple for her to clear an IIT JEE exam.
After clearing the exam she had taken admission in the Indian Institution of Technology, Madaras in 2005 in the field of Electrical Engineering. She also played a lot of sports and read books during her college time. Then after completing graduation Vineeta Singh cleared an exam of CAT with a very good rank and took admitted to IIM Ahmedabad to follow her MBA for two years from 2005-2007. Then she went for a three-month internship at Deutsche Bank throughout the summer.
Difficult Times of Vineeta Singh’s Life
After completion of her MBA, she was offered a 1 crore package per annum in Investing bank but she rejects the offer because her parents were the motivation as her father being a Ph.D. holder wanted to research all over the world drugs which cure dangerous diseases like cancer. Inspired by her father she also wanted to do something which is best all over the globe. She wants to do something different and have her own identity in the world.
Reading books in her college time has given her lots of stimulation, to open her own company but the idea of starting a new company was very difficult, as she was having no experience. So at last, after rejecting the job at the age of 23 she decided to open her own company. But the idea of the company she was thinking of was an E-commerce company that needed funding of 1 crore, but no investor was ready to invest in their idea, everyone asked them for experience and reasons why they should invest in their company but Vineeta has no answer for that. So she decided she will never take money from an investor and will start a company by running Bootstrap.
She runs Bootstrap, which provides background verification services and takes money from them. She earns 10k per month in Mumbai. It was very tough for her to sustain on a very less pay scale. Then in 2012, she opened her own beauty product supplying company FAB BAGS in Mumbai with the support of her husband. In about 3 years her company increased turnover from 3 crores to 4 crores which was really a big achievement for her. Nevertheless, Vineeta Singh has big dreams she felt that this company will never become the world’s biggest company, so after 5 years she closed the company.
The Beginning Of Sugar Cosmetics Company
After so much research in 2015, she came to know in the future young women can become consumers in India, she consider a business that caters to younger women. She started her own company with the name SUGAR. In India, no one grabs beauty products online. The Indian market basically depends on purchasing the product physically or going to market. If she wants to grab society’s attention towards her company then she has to make a product as per the consumer requirements.
After exploring so much and talking to consumers and after observing what kind of products our young women want, her company made products that stay from morning to night, colors that suit young women and make them feel confident, and many more qualities. No compromises was done in the quality of the product and the product is offered at very reasonable prices.
Thereafter, her company products also started selling online on E-commerce sites, the consumers were able to reach her very easily, review and rate the product and the sell was very much increased outstandingly. Today the turnover of her company is more than 350 crores per year. Now her company has 15% of international marketing.
Some Victories of Vineeta Singh
Vineeta Singh was awarded The Economic Times 40 under forty Award 2020 and is known to us as India’s young women’s business leader. She has participated in so many marathons almost 14 marathons and full marathons. Moreover, she is very concerned about her fitness although also participated in Ultra Marathon called Comrade, which is 89 km held in South Africa, and won a bronze medal. Vineeta also participated in the Shark Tank television show. She has invested in so many companies like NOCD Energy drink, blue Pine foods, Ridebooz, and many more companies in Shark Tank.
Vineeta Singh is such an inspirational lady in the world and she is one of the 100th mindful women in the globe. There are lots of failures and rejections on the path to success so one should never be afraid of facing such situations in their life. A successful person needs years of hard work, consistency, and patience.
The inspirational story of Vineeta Singh is a boost of inspiration and motivation for all of us.