The beauty industry and Purplle
Everything is available at our doorsteps within the blink of an eye, thanks to the digital era. This also applies to the beauty industry, which was founded in 2011 with its headquarters in Mumbai, Maharashtra. It is the leading Indian multi-brand beauty retailer, and more companies are diving into this industry. Purplle, founded in 2011 with its headquarters in Mumbai, Maharashtra, is the leading Indian multi-brand beauty retailer. It sells cosmetics as well as wellness products.
The startup story of Purplle
Purplle is an online beauty shopping store that allows people to buy skincare products based on their hair and skin type and personal choices. It is known to be an online portal with a massive range of skincare, haircare, cosmetics, and perfumes. The platform allows people to enhance their shopping experience with great customer service.
The Indian cosmetic market is estimated to generate around US $6.45 billion in sales this year, as per Statista report analysis. Also, from 2024–2028, this industry will grow at an estimated annual rate of around 2.86%.
The Company was founded by a team of people. Manish Taneja, who is the co-founder, and CEO, as well as managing director of the company, Rahul Dash, who is the co-founder, along with Suyash Katyayani, who is the co-founder as well as CTO.
The company was initially contemplated as a furniture and fashion brand. However, it got into the beauty segment because of its initial low investment requirements. It all began with small savings and, after the initial month, a sales hike. The company faced amazing growth until 2015.
After five years, there was a realization to evolve and get the benefit of the data stack. Purplle went beyond online shopping and got into offline stores.
Purplle specializes in makeup, skincare, beauty appliances, and a lot more from Indian as well as foreign companies. It is also expanding services like salon scheduling.
The business model of Purplle
It is a direct-to-consumer retailer of beauty items. Purplle focuses on the massive selection of cosmetics that are available to people through its e-commerce website as well as its app.
Also, it has entered the private label market with the launch of its in-house brand, StayQuirky, while selling products from different brands. In addition to increasing brand visibility, it allows Purplle to offer its customers new products.
The company is in talks with the Abu Dhabi investment authority about a $100 million investment. It will lead to better growth for the company. With this financing, it will be possible for Purplle to increase its product line, scale operations, and mark its place in the beauty industry.
