Purplle has increased its Gross Merchandise Value by four times over the last three years by catering to the beauty needs of customers in Tier II, Tier III and below micro-markets.
Purplle group, India’s omni-channel beauty platform, raised Rs 1,000 crore in a funding led by wholly-owned subsidiary of Abu Dhabi Investment Authority (ADIA) along with its participation from other investors, which includes a combination of primary and secondary shares.
Alongside the funding round, it also announced its largest Employee Stock Ownership Plan (ESOP) liquidity program and will offer liquidity of Rs 50 crore to its employees.
Despite not disclosing its current valuation, the company is estimated to be around $ 1.2-1.3 billion according to media reports.
One of the fastest growing retailers in the Beauty and Personal Care (BPC) segment, Purplle operating has increased its Gross Merchandise Value by four times over the last three years by catering to the beauty needs of customers in Tier II, Tier III and below micro-markets.
“We will constantly innovate and leverage our technology and data capabilities to provide our customers with the best omni-channel experience. In increasing its shareholding in Purplle, ADIA has continued to support us as we pursue our vision of building a sustainable and profitable business”, said Purplle co-founder and CEO Manish Taneja speaking on the investment.
Purplle also announced ESOPs to 320 employees up to date, and 85 of them have liquidated ESOPs worth Rs 75 crore over three buyback programs, In the largest-ever ESOP liquidity program announced, 26% of it beneficiaries are women.
Purplle founded in 2012, the omni-channel consumer platform serves the beauty needs of the Indian masses serving quality products accessible to all. In 2022, Purplle became India’s 102 unicorn backed by investors including a wholly owned subsidiary of ADIA, Kedaara, Premji Invest, Sequoia Capital India, JSW Ventures, Goldman Sachs, Verlinvest, Blume ventures, and Paramark ventures.