Starting from clothes to medicines, everything is within our reach with just a few clicks now in the digital era that we are living in. The same goes for skincare and haircare products, cosmetics, and fragrances.
The skincare, haircare, cosmetics, beauty products, and the markets for all of them are growing at breakneck speeds. Thus, more and more companies are diving into the beauty industry with their unique offerings. Purplle is one such example of an e-commerce beauty brand that is growing in its unique way to compete with the bigger players in the industry.
Founded in 2011 and headquartered in Mumbai, Maharashtra, Purplle is an Indian multi-brand beauty retailer selling cosmetic and wellness products.
With the help of its online store and an ever-growing list of cosmetics, fragrances, skin, and hair care products, Purplle is fast becoming a favorite. It gives an online space to beauty and wellness needs that showcase beauty brands and products. Purplle aims to take the shopping experience to a different level.
Here we bring you the success story of Purplle, where you can learn about Founders of Purplle, company’s Mission and Vision, Business Model, Competitors, Shareholding, Challenges Faced, Future Plans, and more.
Purplle Company Profile
| Startup Name | Purplle.com |
|---|---|
| Headquarters | Mumbai, Maharashtra, India |
| Sector | Online shopping, Cosmetics |
| Founders | Manish Taneja, Rahul Dash and Suyash Katyayani |
| Founded | 2011 |
| Valuation | $1.25 billion (December 2024) |
| Website | purplle.com |
About Purplle
Purplle – Industry
Purplle – Founders and Team
Purplle – Startup Story
Purplle – Mission and Vision
Purplle – Name, Tagline and Logo
Purplle – Business Model
Purplle – Revenue Model
Purplle – ESOPs
Purplle – Challenges Faced
Purplle – Funding and Investors
Purplle – Shareholding
Purplle – Acquisitions
Purplle – Partnerships
Purplle – Growth
Purplle – Financials
Purplle – Advertisements and Social Media Campaigns
Purplle – Competitors
Purplle – Future Plans
About Purplle
Purplle is an operator of an online beauty shopping store created to buy skincare products based on people’s hair and skin type and other personal choices.
It is an online portal with a large collection of cosmetics, skincare, haircare & fragrances. It showcases some of the best products from the leading brands in the world at the best prices. Purplle Cosmetics aims to take the users’ shopping experience to a completely different level by enabling the consumers to have a personalized shopping experience taking skin and hair type into account. They also have a brilliant customer service department that can be accessed via their customer care number.
Michelle D’souza
Purplle – Industry
In 2025, India’s cosmetics market is expected to generate US$6.90 billion in revenue. according to a Statista report analysis. From 2024 to 2028, the industry is likely to increase at an estimated annual rate of 2.86%.
Purplle – Founders and Team
Manish Taneja (Co-Founder, CEO, and Managing Director), Rahul Dash (Co-Founder), and Suyash Katyayani (Co-Founder and CTO) are the founders and owners of Purplle. They founded Purplle in 2011.
Manish Taneja
Manish is an IIT Delhi alumni, who completed his Bachelor’s and Master’s in Electrical Engineering from IIT Delhi. Taneja then went to the CFA Institute, where he completed Level 3, Finance. The Co-Founder, CEO, and Managing Director of Purplle started as an Intern at Ittiam Systems.
He then worked as an Analyst at Lehman Brothers; an Analyst and Associate at Avendus Capital, and eventually as an Analyst – Private Equity at Fidelity Growth Partners India. Manish Taneja finally decided to found his beauty firm, Purplle. Manish Taneja was a second-time entrepreneur when he started Purplle.
Rahul Dash
Rahul Dash is the Co-Founder of Purplle, who previously worked as a Senior Manager – Strategy and Business Development at the Tata Power Company. Furthermore, he was also appointed as a TAS Manager at Tata Chemicals Ltd after serving as a TAS Manager at Tata Advanced Systems Ltd. and Tata Motors.
Rahul was a Mechanical Engineering student at IIT Kharagpur, who completed his Bachelor’s degree from IIT Kharagpur. Dash then went on to obtain a PGDM in General Management from IIM Ahmedabad.
Suyash Katyayani
Suyani is known as the Co-Founder and CTO of the brand. Katyayani had been a student of DPS Bhilai and is also an alumnus of IIT Kharagpur, where he completed his BTech in Chemical Engineering. Suyash had earlier co-founded VidyaCenter, which makes Purplle his second attempt at entrepreneurship. Katyayani started his career as a Software Engineer at OnMobile.
Muskaan Kapoor
Purplle – Startup Story
Purplle, founded as a strategic move into the beauty segment, initially contemplated furniture and fashion but chose the latter due to lower initial investment requirements. Purplle was formed as a strategic move into the beauty category. Purplle began with small savings, and after the first month, sales took up. From then on, the company had extraordinary growth up until 2015.
After five years, Purplle realized that they needed to evolve and took advantage of their data stack, using the acquired insights into consumer behavior as their USP. Purplle went beyond online shopping in 2017 and established its first physical location in Mumbai. The store provides customized product recommendations based on customer preferences and makes use of cutting-edge technology to improve the overall customer experience.
Purplle, which specializes in skincare, makeup, haircare, body care, and beauty appliances from more than Indian and foreign companies, is always coming up with new ideas. It also expanded its services to include salon scheduling.
Purplle – Mission and Vision
Purplle’s mission: “Purplle gives an online space to your beauty and wellness needs. We showcase some of the best products from the leading brands in the world. It aims to take your shopping experience to a completely different level. We know shopping infuses an incomparable high.”
The vision of the Purplle company is to grow as one of the most popular brands in the cosmetics and beauty industry as an online retailer.
Purplle – Name, Tagline, and Logo
The Purplle logo is in purple, signifying the name and the taste of modern women. The company offers cosmetics, fragrances, skin, and hair care products at the best available prices and, thereby, is loved by women and girls all around.
Purplle has selected its tagline to be India’s #1 Beauty Destination.
Purplle – Business Model
Purplle is a direct-to-consumer (D2C), retailer of beauty items, with a focus on a broad selection of cosmetics available via its eCommerce website and app. Purplle has entered the private label market by launching its in-house brand, StayQuirky, in addition to selling goods from other brands.
In addition to increasing its brand visibility, this enables Purplle to provide its clients with special products. Additionally, Purplle leverages technology to offer services like virtual try-ons and product recommendations, all while focusing on delivering a smooth and customized shopping experience.
Purplle – Revenue Model
Purplle generates revenue from different resources:
- Purplle generates income from fees and commissions: Fees charged to sellers for listing their products in the marketplace and commissions on products sold on the platform.
- Advertising on the app and website: Brands and companies wishing to reach Purplle’s client base purchase advertising space on the app and website, which accounts for a sizeable amount of Purplle’s earnings.
- Partnerships and commission-based services: Purplle further diversifies its revenue streams by partnering with beauty brands and charging for commission-based services like salon reservations.
Purplle – ESOPs
Purplle expanded its ESOP pool size, making it worth $40 million as of May 13, 2022. The Purplle board has passed the resolution for the expansion of its existing ESOP pool to include 6,806 ESOP options, where each option will be converted into equity shares, as per the regulatory filings of the company with the Registrar of Companies.
With this expansion of the Purplle ESOP pool, the company joins the list of other Indian companies, including Pine Labs, Ather Energy, Ecom Express, Ninjacart, LEAP, and more.
Purplle – Challenges Faced
As Purplle went through many stages in its business cycle, it faced many challenges in growing its business and establishing itself as one of India’s top skincare and makeup brands. It was difficult for Purplle to maintain its leadership position in the business because of the fierce competition in the market and the influx of several companies into the e-commerce area. Furthermore, in the face of growing competition, it was critical to establish distinction and brand identification, even though this presented substantial challenges.
Despite the market saturation, gaining new customers still required large marketing and promotional budgets. The obstacles Purplle experienced in its pursuit of expansion and success in the cosmetics and skincare industry were further compounded by the need to adjust to changing trends and consumer preferences, ensure operational efficiency, and navigate regulatory compliance.
Prakash Mishra
Purplle – Funding and Investors
Purplle has raised a total of $476.1 million in 19 funding rounds to date with their latest round in October 2024. In this round, Purplle raised ₹10 billion at ($120 million) a $1.25 billion valuation and the lead investor was Abu Dhabi Investment Authority (ADIA).
Purplle is currently funded by around 21 investors.
| Date | Round | Amount | Lead Investors |
|---|---|---|---|
| October, 2024 | Series F | INR 1500 | Abu Dhabi Investment Authority, Premji Invest |
| June 12, 2024 | Secondary Market | – | – |
| June 12, 2024 | Private Equity Round | $120 million | Abu Dhabi Investment Authority |
| Oct 4, 2023 | Secondary Market | – | Ranjan Pai |
| May 24, 2023 | Secondary Market | – | Abu Dhabi Investment Authority |
| May 24, 2023 | Series E | – | Abu Dhabi Investment Authority |
| June 9, 2022 | Series D | $33 million | Paramark Ventures, Blume Ventures, PremjiInvest, Kedaara and more |
| January 17, 2022 | Series D | $34 million | Faces Investment Holdings |
| November 18, 2021 | Series D | $60 million | PremjiInvest |
| October 29, 2021 | Series D | $75 million | Kedaara Capital |
| Mar 22, 2021 | Series D | $45 million | Sequoia Capital India, Verlinvest |
| Nov 23, 2020 | Venture Round | $1 million | Spring Marketing Capital |
| Jan 13, 2020 | Series C | $8 million | Verlinvest |
| Dec 12, 2019 | Series C | $30 million | Goldman Sachs |
| Jun 20, 2018 | Venture Round | $2.33 million | – |
| Dec 15, 2017 | Series C | $459K | Mountain Pine Capital, Suncoast Investments |
| Jul 11, 2016 | Series B | $6 million | JSW Ventures |
| Jan 5, 2015 | Venture Round | – | IvyCap Ventures |
| May 2, 2014 | Angel Round | $541.2K | – |
| Aug 26, 2013 | Series A | – | – |
Purplle – Shareholding
Purplle’s shareholding pattern as of September 2024, sourced from Tracxn:
| Purplle Shareholders | Percentage |
|---|---|
| Manish Taneja | 7.6% |
| Rahul Dash | 5.5% |
| Suyash Katyayani | 2.5% |
| Verlinvest | 12.3% |
| Premji Invest | 9.6% |
| Goldman Sachs | 9.2% |
| Kedaara | 8.6% |
| ADIA | 5.0% |
| Sequoia Capital | 8.5% |
| Blume Ventures | 4.8% |
| IvyCap Ventures | 2.5% |
| Angel | 6.2% |
| ESOP Pool | 10.4% |
| Others | 7.3% |
Purplle – Acquisitions
Purplle acquired FACES CANADA on December 18, 2021. This is the first major acquisition of the Mumbai-based beauty products marketplace. After the acquisition, the latter is to operate independently and expand its portfolio.
Purplle – Partnerships
Nisara Beauty
Luxury perfume brand Nisara is expanding offline by partnering with Purplle stores across India. The brand will now be available in 16 stores nationwide.
Purplle – Growth
Purplle growth highlights are:
- It has 1,000+ listed brands as of March 2024
- It has 60,000+ products as of March 2024
- It has 7 million+ monthly active users as of March 2024
- The company has 8 exclusive stores
- Purplle has 6,000+ offline touchpoints
Purplle – Financials
Over the past few years, Purplle has demonstrated substantial growth in revenue while effectively narrowing its losses.
| Particulars | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|
| Revenue | INR 680 crore | INR 475 crore | INR 220 crore | INR 128 crore | INR 91 crore |
| Expenses | INR 850 crore | INR 738 crore | INR 431 crore | INR 191 crore | INR 123 crore |
| Profit/Loss | INR -124 crore | INR -230 crore | INR -204 crore | INR -52 crore | INR -24 crore |
In FY23, Purplle reported operating revenue of INR 475 crore, which saw an increase to INR 680 crore in FY24. But that came alongside a stark increase in Total Expenses, the company had total expenses of INR 850 crore in FY24, up from INR 738 crore in FY23. However, the company recorded a loss of INR 230 crore in FY23, which decreased to INR 124 crore in FY24.
Purplle Revenue
| Revenue Breakdown | FY24 | FY23 |
|---|---|---|
| Total Revenue | INR 725 crore | INR 509 crore |
| Revenue from Operations | INR 680 crore | INR 475 crore |
| Other Income | INR 45 crore | INR 34 crore |
Purplle’s revenue from operations grew by 43% from INR 475 crore in FY23 to INR 680 crore in FY24.
Purplle Profit/Loss
| Profit/Loss Metrics | FY24 | FY23 |
|---|---|---|
| Net Profit/Loss | INR -124 crore | INR -230 crore |
Purplle reduced its losses by 46% in FY24 compared to FY23.
Purplle Expenses
| Expense Breakdown | FY24 | FY23 |
|---|---|---|
| Total Expenses | INR 850 crore | INR 738 crore |
| Employee Benefit Expenses | INR 191 crore | INR 170 crore |
| Purchase of Stock-in-Trade | INR 124 crore | INR 102 crore |
| Other Expenses | INR 501 crore | INR 453 crore |
Total expenses increased by 15% in FY24, mainly due to higher employee benefits and stock-in-trade purchases.
Quick Summary:
- Revenue Growth: Purplle’s revenue grew by 42% in FY24, reaching INR 725 crore (from INR 509 crore in FY23).
- Loss Reduction: Net loss reduced by 46%, improving from INR 230 crore to INR 124 crore.
- Expense Management: Total expenses rose by 15%, with key increases in employee benefits and stock-in-trade purchases.
EBITDA
| Purplle Financials | FY23 | FY24 |
|---|---|---|
| Expense/Rupee of ops revenue | INR 1.55 | INR 1.25 |
| ROCE | -18% | -9.8% |
| EBITDA Margin | -39% | -12% |
These financial trends highlight Purplle’s strong revenue growth and effective cost management, setting a path towards profitability.
Purplle – Advertisements and Social Media Campaigns
#Har Indian Ka Beauty Destination Campaign
#Har Indian Ka Beauty Destination
The campaign, which features brand spokesperson Sara Ali Khan, aims to inspire women to discover their unique beauty needs. The advertisement emphasizes the idea that Purplle offers beauty products to suit every Indian’s needs.
Purplle – Competitors
The top competitors of Purplle are:
- Nykaa
- Myntra
- SUGAR Cosmetics
- MyGlamm
- Scentials
- NewU
- Lusso Liv
- Make Up Shades
Ria Sahni
Purplle – Future Plans
Purplle plans to tap the public markets between the second half of next year and early 2026, CEO Manish Taneja said in an interview.
With this financing of $120 million aided by AIDA in June 2024, Purplle will be able to grow its product line, scale operations, and solidify its place in the skincare and cosmetics industry, all while facilitating the exit of its original investors.
FAQs
Is Purplle an Indian company?
Yes, Purplle is an Indian company.
What is Purplle?
Purplle is an online store that sells cosmetics, fragrances, skin, and haircare products.
Who is the CEO of Purplle?
Manish Taneja is the CEO of Purplle.
Are products on Purplle genuine?
Purplle claims that it has products, which are 100% genuine.
Who is Purplle cosmetics owner?
Purplle is founded by Manish Taneja and Rahul Dash.
Is Purplle a unicorn Indian company?
Yes, Purplle has turned into a unicorn Indian company by raising $33 mn via its extended Series D round that came in on June 9, 2022.