Purplle has acquired the Faces Canada cosmetics brand.
About Purplle-
Purplle.com, created in 2012 and has over 7 million monthly active users, is one of India’s most popular e-beauty sites. The cosmetics e-tailer provides around 50,000 items from over 1000 brands on its website and app. Purplle.com received a $45 million investment from Verlinvest, Sequoia Capital India, Blume Ventures, and JSW Ventures. Purplle’s digital-first beauty brands have scaled successfully, such as Purplle, Good Vibes, and NY Bae. The market valuation of Good Vibes, one of the top three brands in the app’s Naturals Skincare section, has already crossed INR 150 crore.
Purplle’s app offers customers a unique, highly personalised digital shopping experience, complete with extensive user personas, test cosmetics, and product recommendations based on personality, search terms, and purchase history. Purplle is well-positioned to be a market leader in India’s expanding e-beauty market, with over 800 workers and a year-on-year growth rate of more than 90%.
About Faces Canada-
Faces Canada has a 40-year history in Canada and offers a diverse range of high-quality cosmetics and skincare. In our perspective, all beauty is about claiming one’s uniqueness and wearing one’s appearance with self-assurance. As a result, our products are made to look good on people of different races, skin tones, complexions, and textures. Furthermore, our items are both cruelty-free and hypoallergenic. Quality is one of our core values, so we are opposed to animal experiments, adhere to the highest standards, and always use safe components.
We’ve grown into a globally recognised brand with a diverse range of products that can capture any look or style, from casual chic to go-getter dazzling, and everything in between, all at cheap costs. To provide genuinely world-class cosmetics to every Indian vanity, we’ve created one-of-a-kind technologies and formulae that combine global cosmetic technology with the distinctive needs of Indian skin tones.
We are proud of our diverse selection of high-quality, globally recognised products. Our products are created with high-quality formulations in Italy, Germany, and Turkey to give you the finest for your skin. Our products are currently available in over 140 Indian cities and towns, over 1500 cosmetic retail stores, and in select modern trade channels. Our products can also be purchased on virtually every third-party website, including Nykaa, Amazon, Flipkart, Myntra, Purplle, and others.
Purplle has acquired the Faces Canada cosmetics brand-
FACES CANADA, a cosmetics and skincare brand based in Mumbai, has been bought by Purplle, a Mumbai-based digital beauty marketplace. Purplle has added Good Vibes to its stable of owned and acquired beauty brands, including Carmesi, NYBae, and Carmesi. On the other hand, the transaction’s value was not disclosed by the company.
Purplle.com co-founder and CEO Manish Taneja commented, “With a strong existing portfolio, this acquisition will strengthen our beauty line with international high-quality, unique items.”
He explained that the two companies would collaborate to grow their operations and attract a broader range of clients.
“We intend to emphasise our mutual goals, resources and reach unknown parts of the country through this connection,” said Kunal Gupta, CEO of FACES CANADA. The partnership will help us realise our goal of providing Indian consumers with the most comfortable international-quality cosmetics as well as a more personalised beauty experience.”
Following the acquisition, FACES CANADA will continue to operate independently and extend its current portfolio under Purplle.
Purplle’s reach is bolstered by this acquisition, which, according to the release, offers a wide range of unique and differentiated items.
FACES CANADA first entered the Indian market in 2009 with Italian, German, and Turkish products. Its products are sold in approximately 1,500 cosmetic retail stores and select modern trade outlets across India and on internet platforms.
Purplle is an online store that provides cosmetics, appliances, and beauty products. Manish Taneja and Rahul Dash started it in 2011. StayQuirky, Purplle’s private label, generates a large amount of the company’s revenue.
The Mumbai-based e-commerce platform’s INR 368 Cr ($49 Mn) investment round was initially reported by Inc42 last month.
Purplle later announced a $140 million Series D fundraising round led by Premji Invest, Kedaara Capital, Sequoia Capital India, and Blume Ventures, bringing the company closer to its aim of becoming a multibillion-dollar enterprise.
Purplle has over 1,000 brands and 50,000 products in cosmetics, skincare, haircare, personal care, perfumes, and grooming appliances. By the end of FY22, the website expects to have over 7 million monthly active users and produce INR 1,400 crore in gross merchandise value (GMV).
In 2019, the company raised $30 million in Series C funding led by Goldman Sachs. It raised $6 million in a Series B funding in 2016.
Purplle faces off against brands like Nykaa, SUGAR Cosmetics, Plum, and WoW Skin, to mention a few.
Online beauty marketplaces have made a lot of money this year. Mamaearth raised $50 million in a new round in July, while SUGAR Cosmetics raised $21 million in a Series C investment in February. In April of this year, WoW raised $50 million from ChrysCapital.
Last month, FSN E-Commerce, which owns Nykaa, a Purplle competitor, went public with a 79 per cent premium, marking a successful debut on the stock exchanges.
