Image courtesy- @techcrunch
The online beauty sector shows another sign of growth in India. The online beauty store Purplle rose funding of $ 45 Million from Sequoia Capital India. The funding was raised in the Series D segment. The company also saw exiting investors like Verlinvest, Blume Ventures, and JSW Ventures. The Ivy Cap ventures also took a partial exit. They had invested in Purplle in the year 2015. The online beauty- e-tailer Purplle has joined the list of the many cosmetic and beauty retailers who have risen to get funded recently.
The e-commerce platform that entered the beauty e-retail segment in 2012 was founded by Manish Taneja, Rahul Dash, and Suyash Katyayni. The platform directly competes with Nykaa, Plum, and Sugar Cosmetics.
In 2020, according to the news, Purplle had witnessed a surge in sales from Tier 2 and Tier 3 cities especially in the northeastern part of India. The brand does not only focus on selling but also gives beauty ideas and beauty tips. The e-commerce retail in beauty Purplle brings to its platform the latest beauty for its consumers. The brand has a collection of skincare and cosmetic products on its e-selling platform.
I Knock Fashion Desk
The changing trend from offline and in-store shopping to online shopping in beauty is growing. The lockdown changed much in the habits of the beauty and skincare buyers. Purplle raising funds with Juicy Chemistry, My Glamm, Nykaa, Plum, and Mama Earth is indicating towards the consumers opting for wider digital options to search and select their beauty products. The online store Purplle is sure to expand and compete in the scaling graph of beauty products and skincare product sales in India. The beauty sector is opening new options and avenues for various organizations.