Purplle: Transforming Beauty for the Digital Era
In the digital age, where everything from clothes to medicine is just a few clicks away, beauty and wellness products are no exception. Skincare, haircare, cosmetics, and fragrance markets are expanding at an impressive pace, inviting more brands to enter the industry with innovative offerings. One such brand making waves is Purplle, an e-commerce beauty platform competing with top names in the market, yet carving its own path.
Founded in 2011 and headquartered in Mumbai, Maharashtra, Purplle is a homegrown, multi-brand beauty retailer specializing in cosmetics and wellness. With a diverse range of products, from skincare and haircare to fragrances and makeup, Purplle’s online platform has quickly become a go-to for beauty enthusiasts. The platform brings together top beauty and wellness brands in a single, vibrant digital space, enhancing the shopping experience and elevating how users discover beauty.
Dive into the story of Purplle, and uncover what sets it apart in the world of online beauty and wellness.
| Company Name | Purplle |
| Headquarters | Mumbai, Maharashtra, India |
| Sector | Online shopping, Cosmetics |
| Founders | Manish Taneja, Rahul Dash and Suyash Katyayani |
| Founded | 2011 |
| Valuation | $1.25 billion (June 2024) |
| Website | purplle.com |
About Purplle
Purplle brings the world of beauty right to your fingertips, offering a unique online shopping experience tailored to meet individual skincare and haircare needs. As an online beauty shopping destination, Purplle curates an extensive selection of cosmetics, skincare, haircare, and fragrances designed for a wide range of personal preferences, skin types, and hair types, ensuring there’s something for everyone.
Through its vast collection, Purplle showcases top products from leading global brands—all at unbeatable prices. But Purplle doesn’t just stop at product variety. The platform’s personalized approach elevates the shopping experience by recommending products based on users’ specific skin and hair characteristics, helping you find exactly what suits you best. To complete this seamless experience, Purplle’s dedicated customer service team is available through their customer care number, ready to assist with any queries.
With Purplle, exploring beauty has never been more tailored, accessible, or enjoyable.
Purplle – Name, Tagline, and Logo
“Purplle” is a creative and memorable name for a beauty and cosmetics company, likely chosen for its visual and brand appeal. The word “purple” is often associated with luxury, creativity, and femininity—all attributes that align with the beauty industry. Using an unconventional spelling like “Purplle” helps the brand stand out and makes it more distinctive in the marketplace.
Purplle has selected its tagline to be India’s #1 Beauty Destination.
Purplle – Industry
The Indian cosmetics market is anticipated to generate US $6.45 billion in sales in 2024, 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
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.
The Purplle team is 1,001 – 5,000 strong.
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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 – Funding and Investors
Purplle has raised a total of $416.1 million in 19 funding rounds to date with their latest round in June 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.
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 – 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 as of 2022
- Purplle has 6,000+ offline touchpoints as of 2022
Shareholding:
| Founders Holding | Holding % |
| Manish Taneja | 7.6% |
| Rahul Dash | 5.5% |
| Suyash Katyayani | 2.5% |
The top investors who represent a significant share of the company’s equity are Verlinvest (12.3%), Premji Invest (9.6%), Goldman Sachs (9.2%), Kedaara (8.6%), Sequoia Capital (8.5%), ADIA (5%), Blime Ventures (4.8%), Blacksoil (<1%).
Financials:
| Particulars (In INR crores) | FY24 | FY23 |
| Revenue | 725 | 508 |
| EBITDA | 84.6 | 197 |
| PAT | -124 | -230 |
| PAT Margin | -17% | -45% |
| ROE | -11% | -20% |
Purplle startup story
Purplle started as a strategic move into the beauty industry after considering other options like furniture and fashion. The founders chose beauty because it required less investment to get started, and with small savings, they launched the brand. Within the first month, sales picked up, and by 2015, Purplle was experiencing rapid growth.
By using data to understand customer preferences, Purplle found a unique advantage in the market. In 2017, they expanded beyond online shopping and opened their first physical store in Mumbai, offering personalized product recommendations and using technology to create a better shopping experience.
Today, Purplle offers a wide range of skincare, makeup, haircare, body care, and beauty appliances from top Indian and international brands. Always looking for ways to improve, they even added salon scheduling services to make beauty services more accessible. Purplle’s story is one of steady growth and innovative ideas, helping it stand out in the beauty industry.
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.
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