Companies

JSW-backed Purplle in talks with global brand for partnerships

Priyanka Pani Mumbai | Updated on January 08, 2018 Published on October 11, 2017

Online beauty brand keen to bring high-end brands into India



Purplle, a JSW-backed online marketplace for beauty products, is currently in talks with a few European and American cosmetic companies for exclusive partnerships.

According to sources, the company is evaluating ways such as an exclusive online distribution agreement, offline and online distribution pact or an equal joint venture to bring a few high-end and aspirational brands into the Indian market. With this, the portal also intends to go global soon, sources added.

Sources said that it is currently in advanced discussions with international cosmetic brands — Turkey-based Moda Cosmetics, Poland-based Vipera and US-based Coty for long-term exclusive partnerships to build its global brands portfolio offering to Indian beauty customers.

Both Purplle and JSW did not reply to mails sent by BusinessLine.

JSW venture fund

Started with ₹40 lakh investment from personal savings of its three male founders - Manish Taneja (IIT Delhi), Rahul Dash (from IIT Kharagpur, IIM Ahmedabad) and Suyash Katyayani (IIT Kharagpur), Purplle is an online beauty brand and competes with Falguni Nayar’s Nykaa.

Steel major JSW’s venture fund JSW invested $6 million in the Mumbai-based beauty products and services marketplace. The company posted a loss of ₹10 crore in FY-17 and a revenue of ₹15 crore during the period, according to RoC.

Currently, the company exclusively markets nine global cosmetic brands on its platform and the plan is to increase it to 25 in the next two years.

Sources at Purplle said that it expects about 30-35 per cent sales from its international brands portfolio.

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Published on October 11, 2017
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