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Vineeta Singh had always wanted to create a thriving business. But little did she know that the journey involved long-lasting, liquid matte lipsticks. At least not until major cosmetics brands turned down her offer to co-create the product. However, based on the research and consumer data she had gathered at her first venture, a subscription-based beauty e-commerce portal, Singh was convinced that millennials were hankering for just such a product. So, like any entrepreneur, she decided to make and sell it herself.

Now, seven years later, that lipstick line is available in 52 shades and is among the top sellers at SUG-AR Cosmetics, a direct-to-consumer (D2C) start-up that Singh co-founded. “These brands weren’t ready to launch e-commerce and nobody saw that this demographic of millennials will become so significant,” she says. So significant, in fact, that they powered SUGAR Cosmetics’ revenue past ₹100 crore in FY20, a mere four years after launching.

Singh is part of a growing tribe of new-age startup founders who eschew traditional distribution channels. Instead, they take their products directly to consumers through their own websites, apps and e-commerce channels. Investors estimate there are at least 300 start-ups that strictly qualify as D2C, meaning a majority of their sales comes from their