Personal care platform Purplle aims US$ 100 million sales in FY’21

The e-commerce firm, which has raised US$ 35 million of funds from global investment bank Goldman Sachs and other investors, is exploring opportunities for acquisition in brands, technology and content space to fuel growth.

Online beauty and personal care platform Purplle is looking to double its sales to US$ 100 million during the current fiscal, as it is bullish on growing demand in the e-commerce space in the wake of the coronavirus pandemic, a company official said.

The e-commerce firm, which has raised US$ 35 million of funds from global investment bank Goldman Sachs and other investors, is exploring opportunities for acquisition in brands, technology and content space to fuel growth, according to a PTI report. Purplle achieved US$ 50 million in gross merchandise value in 2019-20. According to the company official, the consolidation in the online beauty and personal care segment is expected to happen in the second half of the current fiscal.The online beauty and cosmetics firms have started witnessing good business from tier-II and tier-III cities after the lockdown restrictions were eased, he said.

The firm had opened a fulfillment center in Kolkata recently, while two more such facilities will be made operational shortly in Hyderabad and Guwahati.

Since its inception in 2011, Purplle has received total funding of US$ 7 million from IvyCap Ventures, Blume Venture Advisors and JSW Ventures. The company has a huge range under several product categories including women’s personal hygiene, specialized beauty and skincare products etc. It has also propelled its game for exclusive associations with global brands for their foray into the Indian market.