Purplle Group Raises Rs 1,000 Crore in Funding Round

Omni-channel beauty platform Purplle Group announced raising Rs 1,000 crore in funding led by Abu Dhabi Investment Authority (ADIA). The funding includes primary and secondary shares. The company also introduced a Rs 50 crore Employee Stock Ownership Plan (ESOP) liquidity programme. Purplle aims to grow its presence and profitability sustainably.

Omni-channel beauty platform Purplle Group has successfully raised Rs 1,000 crore in a funding round led by a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA), the company announced on Monday.

Other investors also joined the round, which raised fresh capital through a combination of primary and secondary share issuance, as per Purplle's statement.

Additionally, Purplle has rolled out an Employee Stock Ownership Plan (ESOP) liquidity programme, offering Rs 50 crore in liquidity to its employees.

Manish Taneja, Co-Founder & CEO of Purplle, stated, "We will continue to innovate and leverage our technology and data capabilities to provide our customers with the best omni-channel experience. Over time, ADIA has expanded its shareholding in Purplle, supporting us in our vision to build a sustainable and profitable business."

Purplle is one of the most rapidly expanding retailers in the beauty and personal care (BPC) segment, having quadrupled its Gross Merchandise Value (GMV) over the past three years. The company's private labels include Faces Canada, Alps Goodness, Good Vibes, Carmesi, and DermDoc, among others, targeting tier II, III, and smaller micro-markets.

Purplle is operationally profitable and aims to outpace the industry's growth in the online segment while scaling its offline presence and enhancing profitability. Founded in 2012, the company has issued ESOPs to 320 employees, with 85 of them liquidating ESOPs worth Rs 75 crore across three buyback programmes. Notably, women make up 26% of the beneficiaries in the largest-ever ESOP liquidity programme announced.

Purplle's online platform reaches over 10 million consumers monthly, supplemented by more than 20,000 offline touchpoints. The company is backed by a diverse group of investors, including ADIA, Kedaara, Premji Invest, Sequoia Capital India, JSW Ventures, Goldman Sachs, Verlinvest, Blume Ventures, and Paramark Ventures.

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