Purplle Parent Invests ₹100 Cr in Beauty E-commerce Unicorn
The beauty e-commerce industry in India has witnessed a significant surge in recent years, with many startups and established players vying for a share of the market. In a fresh development, Purplle, a leading beauty e-commerce unicorn, has secured a substantial investment of ₹99.88 crore from its parent company, Manash E-commerce Private Limited.
According to regulatory documents sourced from the Registrar of Companies, Manash E-commerce issued 1,13,200 shares to Manash Lifestyle Private Limited at an issue price of ₹8,824 each. This investment is a significant boost to Purplle’s growth plans, marking a major milestone in the company’s journey towards becoming a dominant player in the Indian beauty e-commerce landscape.
Purplle, founded in 2011, has emerged as one of the leading players in the beauty e-commerce space, with a vast range of products from various brands and a strong online presence. The company’s success can be attributed to its user-friendly platform, competitive pricing, and extensive product offerings. With this fresh injection of capital, Purplle aims to expand its operations, enhance its technology infrastructure, and explore new business opportunities.
The beauty e-commerce market in India has seen tremendous growth in recent years, driven by increasing consumer demand for online shopping and the rise of social media. According to a report by ResearchAndMarkets, the Indian beauty e-commerce market is expected to grow at a CAGR of 22.4% from 2020 to 2025, reaching a market size of ₹4,34,400 crore.
Purplle’s parent company, Manash E-commerce, is a subsidiary of Manash Lifestyle Private Limited, a leading player in the Indian retail industry. The company has been actively investing in various businesses, including e-commerce, retail, and real estate. With this recent investment, Manash E-commerce has demonstrated its commitment to Purplle’s growth and expansion plans.
This investment is significant not only for Purplle but also for the Indian beauty e-commerce industry as a whole. It indicates the confidence that Manash E-commerce has in Purplle’s business model and its potential for growth. The investment is likely to create new opportunities for Purplle to expand its product offerings, enhance its customer experience, and increase its market share.
In addition to its parent company’s investment, Purplle has also received funding from other investors, including Sequoia Capital India, Blume Ventures, and Kedaara Capital. The company’s impressive growth trajectory and strong financial performance have attracted the attention of investors, who see immense potential in the beauty e-commerce space.
Purplle’s success can be attributed to its focus on providing a seamless online shopping experience to its customers. The company’s platform offers a wide range of products from various brands, including its own in-house brand. Purplle’s e-commerce platform is designed to provide customers with a personalized shopping experience, with features such as product recommendations, easy checkout, and fast delivery.
The company has also been investing heavily in artificial intelligence (AI) and machine learning (ML) to enhance its customer experience. Purplle’s AI-powered chatbots provide customers with instant support and recommendations, while its ML algorithms help to personalize product offerings and improve search results.
In conclusion, Purplle’s recent investment of ₹99.88 crore from its parent company, Manash E-commerce Private Limited, is a significant milestone in the company’s journey towards becoming a dominant player in the Indian beauty e-commerce landscape. The investment demonstrates Manash E-commerce’s confidence in Purplle’s business model and its potential for growth. With this fresh injection of capital, Purplle is poised to expand its operations, enhance its technology infrastructure, and explore new business opportunities.
Source:
https://inc42.com/buzz/exclusive-purplle-parent-infuses-inr-100-cr-in-beauty-ecommerce-unicorn/
