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Online beauty platform, Purplle.com, has acquired cosmetics and skincare brand Faces Canada. The brand was previously owned by Sequoia Capital India and run by a management team. This acquisition for the brand is in India only.
The development comes close on the heels of the online beauty retailer’s Series D fundraise from investors such as Premji Invest, Kedaara Capital, Sequoia Capital and Blume Ventures. The company did not reveal the deal size.
In a statement, Manish Taneja, Co-founder and CEO Purplle.com said, “With the largest acquisition of a makeup brand by a new age beauty company in India, we look forward to a sustained partnership. We will jointly scale to the next level tapping a diverse set of consumers.” He added that the acquisition will “elevate” its makeup portfolio with international high-quality, innovative products.
The brand will join Purplle’s portfolio of owned and acquired beauty brands, including Good Vibes, Carmesi and NYbae.
Founded in 2012, Purplle has a catalogue of over 1,000 brands and more than 50,000 offerings, including makeup, skincare, haircare, personal care, fragrances, and grooming appliances. The online beauty retailer said it has over 7 million monthly active users and expects to end the financial year 21-22 with an annualised GMV run rate of 1400 crore.
Kunal Gupta, CEO, Faces Canada added, “Through this partnership, we aim to amplify our shared values, resources and reach untapped pockets of the country. The synergy will further our agenda of building the international quality cosmetics accessible for Indian consumers, and provide an enhanced personalised beauty experience.’’
Faces Canada is the leading makeup brand in the country and will continue to operate independently and extend its existing portfolio under Purplle.com. In India, it is available in over 140 cities and towns at over 1500 cosmetic retail stores and select modern trade outlets across India.
Globally, the brand has a presence across Asian, European, and North American markets.
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