Purplle is an Indian e-commerce platform that specializes in beauty and personal care products. It was founded in 2012 by Manish Taneja and Rahul Dash, who were both alumni of the Indian School of Business. Purplle initially started as a blog that provided beauty tips and product reviews, but later expanded into an online marketplace.
Since its inception, Purplle has grown to become one of the largest beauty e-commerce players in India. The company has raised over $296 million in 14 rounds of funding from investors like IvyCap Ventures, Blume Ventures, and JSW Ventures. As of 2021, Purplle has over 30,000 products from more than 650 brands, including some of the most popular brands in the industry such as Lakme, Maybelline, L’Oreal, and Neutrogena.
Purplle operates on a marketplace model, which means that it partners with various sellers and brands to offer a wide range of products to its customers. The company has also launched its own private label, called Good Vibes, which offers a range of affordable and high-quality beauty products.
In addition to its e-commerce platform, Purplle also operates over 10 offline stores across India, including in cities like Mumbai, Pune, and Bangalore. The company also has a mobile app, which has been downloaded over 10 million times on the Google Play Store.
One of the key factors contributing to Purplle’s success is its focus on affordability and accessibility. The company offers a wide range of products at competitive prices, and has implemented various initiatives to make it easier for customers to shop for beauty products online. For example, Purplle offers free shipping on orders over Rs. 699, and has a flexible return policy that allows customers to return products within 7 days of delivery.
Overall, Purplle has become a popular destination for Indian consumers looking to buy beauty and personal care products online. With its wide range of products, affordable prices, and focus on customer satisfaction, Purplle has established itself as a leading player in the Indian beauty industry.
History and Founding Story of Purplle
Purplle was founded in 2012 by Manish Taneja and Rahul Dash, who were both alumni of the Indian School of Business. The idea for Purplle came about when Manish and Rahul were discussing the challenges that women in India faced when it came to buying beauty products.
They noticed that many women had to go to multiple stores to find the products they were looking for, and often had to pay exorbitant prices for them. They also realized that there was a lack of reliable information and reviews available online about beauty products.
To address these issues, Manish and Rahul decided to create a platform that would offer a wide range of affordable and high-quality beauty products to women all over India. They started by launching a blog that provided beauty tips and product reviews, which quickly gained a following.
In 2013, Purplle expanded into an online marketplace, partnering with various brands and sellers to offer a wide range of beauty products to customers. The company also launched its own private label, called Good Vibes, which offers a range of affordable and high-quality beauty products.
Overall, the founding of Purplle was inspired by a desire to make beauty products more accessible and affordable for women in India, and the company has remained true to this vision as it has grown and evolved over the years.
Purplle Business Model
Purplle’s business model is based on a marketplace concept, which means that it partners with various brands and sellers to offer a wide range of beauty products to customers. The company acts as an intermediary between buyers and sellers, providing a platform for sellers to list and sell their products, and for buyers to browse and purchase products.
Purplle generates revenue through commissions on sales made through its platform. When a customer makes a purchase on Purplle, the company takes a commission on the sale price, and passes on the rest of the payment to the seller. The commission rate varies depending on the product category and the seller’s sales volume.
In addition to commissions, Purplle also generates revenue through advertising and marketing partnerships with brands. The company offers various marketing services to brands, such as targeted promotions and sponsored content, to help them reach their target audiences on the platform.
Purplle also operates its own private label, called Good Vibes, which offers a range of affordable and high-quality beauty products. By selling its own products, Purplle is able to capture a larger share of the value chain, and generate additional revenue streams.
Overall, Purplle’s business model is focused on creating a marketplace that offers a wide range of affordable and high-quality beauty products to customers, while also providing a platform for brands and sellers to reach their target audiences. Through its commissions, advertising and marketing partnerships, and private label, Purplle is able to generate revenue and create value for all stakeholders in the beauty industry.
Marketing Strategies of Purplle
here are some of the marketing strategies used by Purplle:
Social media marketing: Purplle has a strong social media presence and uses platforms like Instagram, Facebook, and Twitter to engage with its customers and promote its products. The company uses a mix of organic and paid marketing techniques, such as influencer partnerships, user-generated content, and targeted ads, to reach its target audience.
Email marketing: Purplle sends regular newsletters and promotional emails to its subscribers, offering discounts, deals, and product recommendations. The company uses personalization and segmentation to tailor its messages to each customer’s interests and behavior.
Search engine optimization: Purplle invests in search engine optimization (SEO) to improve its visibility and ranking on search engines like Google. The company uses a mix of on-page optimization, content marketing, and link building strategies to drive traffic to its website and increase sales.
Loyalty programs: Purplle offers a loyalty program called “Purplle Insider” that rewards customers for their purchases and engagement with the brand. The program offers various benefits like early access to sales, exclusive discounts, and free gifts, which help to build customer loyalty and repeat business.
Offline marketing: Purplle has also invested in offline marketing strategies like billboards, print ads, and event sponsorships to increase its brand awareness and reach new audiences. The company has also opened over 10 physical stores across India to provide a seamless omnichannel experience for its customers.
Referral marketing: Purplle has a referral program that encourages customers to refer their friends and family to the platform. In exchange for each successful referral, the customer and the referred friend both receive a discount on their next purchase, which helps to drive word-of-mouth marketing and customer acquisition.
Overall, Purplle’s marketing strategies are focused on building a strong brand identity, engaging with customers on multiple channels, and providing a personalized and rewarding shopping experience. By using a mix of online and offline marketing techniques, Purplle is able to reach a wide audience and drive sales in a competitive and dynamic industry.
Also Read: Ecom Express – Success Story, Business Model, Revenue & Funding
Revenue and Growth of Purplle
Purplle has experienced significant revenue growth since its founding in 2012. The company operates in the beauty and personal care industry in India, which is expected to grow at a compound annual growth rate of around 10.7% between 2021 and 2025, according to a report by ResearchAndMarkets.com.
Purplle has reported a steady increase in its revenue over the years. According to data from Crunchbase, Purplle’s revenue grew from $10 million in 2018 to $25 million in 2019, representing a year-over-year growth rate of 150%. In 2020, Purplle reported a revenue of $35 million, and in 2021, the company reported a revenue of $70 million, more than double the previous year’s revenue.
Purplle entered the unicorn club in 2022 after raising $33 Mn in its Series E round from new investor Paramak Ventures, which is a South Korean VC firm, and existing investors Premji Invest, Blume Ventures, and Kedaara.
Purplle has also reported a strong growth in its user base and sales volume. The company reported that it has over 7 million registered users as of 2021, and that it has shipped over 10 million orders since its inception. Purplle has also reported that it has over 30,000 products from more than 650 brands listed on its platform.
In addition to its online platform, Purplle has also expanded into physical retail with the launch of its offline stores, called Purplle Studio. The company has opened over 10 stores in India, with plans to expand further. This omnichannel approach has helped Purplle to reach a wider audience and provide a seamless shopping experience for its customers.
Overall, Purplle’s revenue and growth have been driven by its strong focus on customer experience, its wide range of affordable and high-quality beauty products, and its omnichannel approach to retail. The company has positioned itself as a leading player in the beauty and personal care industry in India, and is well-positioned to continue its growth trajectory in the coming years.
Here we come to another important question – Purplle vs Nykaa
Purplle and Nykaa are two of the biggest players in the Indian beauty and personal care industry. Here are some key differences and similarities between the two companies:
Business Model: Both Purplle and Nykaa are online beauty and personal care platforms that offer a wide range of products from various brands. However, Purplle focuses more on providing affordable products, while Nykaa offers a mix of affordable and premium products.
Funding: While both Purplle and Nykaa have raised significant funding from investors, Nykaa has raised more funding overall. Nykaa has raised over $700 million in funding, while Purplle has raised over $300 million. In 2022, Nykaa has gone public.
Offline Presence: Both Purplle and Nykaa have expanded into physical retail with the launch of their offline stores. Nykaa has over 80 stores across India, while Purplle has around 10 stores as of 2021.
User Base: Nykaa has a larger user base compared to Purplle. As of 2021, Nykaa had around 17 million registered users, while Purplle had around 7 million registered users.
Revenue: Nykaa has a higher revenue compared to Purplle. In 2020, Nykaa reported a revenue of $378 million, while Purplle reported a revenue of $35 million.
In summary, while both Purplle and Nykaa are online beauty and personal care platforms that offer a wide range of products, they differ in their business model, funding, offline presence, user base, and revenue. Both companies are major players in the Indian beauty and personal care industry, and are likely to continue their growth trajectory in the future.
Purplle has been experiencing strong growth in the Indian beauty and personal care industry, and the company is well-positioned to continue its success in the future. Here are some key factors that may contribute to Purplle’s future growth:
Expansion of product offerings: Purplle has been expanding its product offerings to include more categories and brands, and this trend is likely to continue. The company may also introduce more private label products in the future, which could help increase its margins.
Increased offline presence: Purplle has been expanding its offline presence by opening physical stores, and this strategy may help the company reach more customers in Tier 2 and 3 cities. The company may also explore partnerships with other retailers to expand its offline footprint.
Focus on technology: Purplle has been investing in technology to improve its customer experience and supply chain management. The company may continue to leverage technology to drive innovation and efficiency in its operations.
Potential for international expansion: While Purplle currently operates only in India, there may be opportunities for the company to expand to other markets in the future. The Indian beauty and personal care industry is expected to continue growing, and Purplle may be well-positioned to capture a larger share of this market.
Overall, Purplle has established itself as a major player in the Indian beauty and personal care industry, and has the potential for continued growth in the future. By expanding its product offerings, increasing its offline presence, focusing on technology, and potentially exploring international markets, Purplle can continue to capitalize on the growing demand for beauty and personal care products in India.
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