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Starting from clothes to medicines, everything is in our reach with just few clicks on our side. So is the case with skin care and hair care products, cosmetics and fragrances. Purplle is an Indian multi-brand beauty retailer selling cosmetic and wellness products.
Purplle, an online store, sells cosmetics, fragrances, skin, and hair care products. It gives an online space to beauty and wellness needs that showcases some beauty brands and products. Purplle aims to take shopping experience to a different level.
Purplle - Company Highlights
| Startup Name | Purplle.com |
|---|---|
| Headquarters | Mumbai, Maharashtra, India |
| Industry | Online shopping, Cosmetics |
| Founded | 2011 |
| Founders | Manish Taneja and Rahul Dash |
| CEO | Manish Taneja |
| Area Served | India |
| Website | www.purplle.com |
Purplle - About and How it Works?
Purplle - Logo and its Meaning
Purplle - Founder and History
Purplle - Mission
Purplle - Recent News
Purplle - Team
Purplle - Business Model
Purplle - Funding and Investors
Purplle - Competitors
Purplle - Challenges Faced
Purplle - Future Plans
Purplle - FAQs
Purplle - About and How it Works?
Purplle is an operator of an online beauty shopping store created to buy skincare products based on personal choice and skin type.
It is an online portal with a very large collection of cosmetics, skincare, hair care & fragrances. It showcases some of the best products from the leading brands in the world at the best price. Purplle aims to take users' shopping experience to a completely different level by enabling consumers have a personalized shopping experience that takes skin and hair type into account. They also have a brilliant customer service department that can be acessed via their customer care number.
Purplle.com has a large assortment of products across 650 brands with 50,000 SKUs and 300 beauty specific sellers. Purplle provides all warehousing and logistics services to sellers to ensure quality of products and delivery of them is well maintained.
Purplle has tied up with 6,000 salons with detailed pricing information on the platform for customers to make a choice for the right service.
There are three major categories around which Purplle has built its website. The first is the Beauty Product Marketplace where products catering to make-up, skin care, hair care etc., are listed. The second is the Salon Booking Marketplace where they list and accept bookings for salons and spas near you. The third is Purplle Salons, which is their chain of Premium Economy Salons, through which they aim to create a great salon experience for customers.
Purplle - Logo and its Meaning
The Purplle logo is in purple colour which is usually loved by women and girls all around the world. The company offers cosmetics, fragrances, skin, and hair care products in the best price which is loved by women and girls all around.
Purplle - Founder and History
Purplle is founded by Manish Taneja and Rahul Dash in 2012. Manish is an IIT Delhi alumni started up Purplle with Rahul Dash who went to IIT Kharagpur for his Bachelor’s degree and then went to IIM Ahmedabad for his business studies. Rahul worked in Tata groups before starting Purplle.
Purplle began as an online retailer in December 2011 and opened its first physical retail store at Phoenix Market City Kurla, Mumbai in January 2017.
The company retails products for skin care, make-up, haircare, body care and beauty appliances from more than 600 Indian and international brands. It showcases some of the best products from the leading brands in the world. Purplle aims to take users' shopping experience to a completely different level.
Purplle - Mission
Purplle's mission statement says, "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."
Purplle - Recent News
- Spring Marketing Capital backs beauty products marketplace Purplle.com
- Online beauty store Purplle aims $100M sales in FY21, eyes acquisition
- Goldman Sachs acquires INR 60 Crore worth Purplle’s stake in secondary buyout
Purplle - Team
- Norbert Fernandes - Advisor
- Manish Taneja - Co-Founder & CEO
- Rahul Dash - Co-Founder & COO
- Suyash Katyayani - CTO
- Anant Khannekar - Big Data Scientist
Purplle - Business Model
The Purplle business model, like other e-commerce providers forayed into the private label space by subsuming 650 brands in different categories displayed on the platform.
Purplle has an engine that includes providing a seamless customer experience online by focusing on unit economics and not carrying too much inventory. Purplle has relied purely on tech and content to come to their rescue. The Q&A platform and user community created in 2013, helped inform the recommendation platform and Chatbot assistant. The data generated from the user community helped them to build buckets of consumers and refine their target audience more accurately.
Purplle - Funding and Investors
Purplle has raised a total of $93.6M in funding. Their latest funding was raised on March 22, 2021. Purplle is funded by 15 investors. Spring Marketing Capital and Verlinvest are the most recent investors.
| Date | Round | Money | Lead Investors |
|---|---|---|---|
| Mar 22, 2021 | Series D | $45M | Sequoia Capital India, Verlinvest |
| Nov 23, 2020 | Venture Round | $1M | Spring Marketing Capital |
| Jan 13, 2020 | Series C | $8M | Verlinvest |
| Dec 12, 2019 | Series C | $30M | Goldman Sachs |
| Jun 20, 2018 | Venture Round | ₹175M | - |
| Dec 15, 2017 | Series C | ₹34.4M | Mountain Pine Capital, Suncoast Investments |
| Jul 11, 2016 | Series B | $6M | JSW Ventures |
| Jan 5, 2015 | Venture Round | - | IvyCap Ventures |
| May 2, 2014 | Angel Round | $541.2K | - |
| Aug 26, 2013 | Series A | - | - |
Purplle - Competitors
The top competitors in Purplle's competitive set are Nykaa, MyGlamm, Myntra, Scentials, NewU, Lusso Liv, Bigbasket, Grofers, SUGAR Cosmetics, and Make Up Shades.
Rishabh Rathi
Purplle - Challenges Faced
Manish recalls that in 2011, there was no Sephora in the country. He further said that that beauty stores were minimal across the country, and B2B transactions were done only by the salons. The trio started their company purplle with about INR 4 million as their combined savings. However, in the initial month, it only profited about INR 45K from their friends and family. But as the company grew, just within four months, Purplle observed a 30% monthly scale. Now Purplle makes over INR 15 Crores a month.
Purplle has seen its fair share of successes and failures since inception. Manish Taneja and his co-founder, Rahul Dash, along with CTO Suyash Katyanani, however, believed in only one philosophy which is :
“Customers have to be the centre point of the conversation and sale. And the aim of a beauty ecommerce portal should be to provide solutions for their needs. A hard sell based on discounts is a big no."
Purplle - Future Plans
Purplle hopes that social media may influence India’s middle-class to get more into beauty products, along with increased purchasing power of Millennials. The company further says that with AI in the market, it won’t be long before e-commerce platforms became the significant sources of people’s cosmetic products.
"We want to focus on Purplle Salon for bringing the best salon experience to our customers. Our next step would be to bring international brands to India and introduce our own brands in the market." said the CEO and co-founder of Purplle, Manish Taneja.
Purplle - FAQs
Is Purplle is an Indian company?
Yes, Purplle is an Indian company.
What is Purplle?
Purplle, an online store, sells cosmetics, fragrances, skin, and hair care products.
Who is the CEO of Purplle?
Manish Taneja is the current CEO of Purplle.
Are products on Purplle genuine?
Purplle claims that it has products which are 100% genuine.
Who founded Purplle?
Purplle is founded by Manish Taneja and Rahul Dash.
Author: Sarika Anand
Source : https://startuptalky.com/purplle-success-story/
Date : 2021-05-04T16:21:00.000Z