Since its first funding round in late 2018, Plum has grown 15x, driven by a strong leadership & investor team focused on building value for – People, the Planet, and Profit-sharing participants. It continues to be one of the fastest-growing brands in the new-age beauty space, thanks to its high-quality product lines, lovable brand personality, and strong Omni-channel presence. Not only is it among the top brands on key eCommerce marketplaces such as Amazon, Flipkart, Nykaa, and Purplle, but the brand also is today available in over 250 towns and cities in India, through nearly 1,000 assisted retail outlets, and over 10,000 unassisted outlets – growing month-on-month.
The brand today has wide acceptance across channels and categories – skin, hair, body, men’s care, and now makeup, reinforcing its potential for dominance in a rapidly growing market for clean beauty products. At a current ARR of ~INR 300 crores on a net revenue basis, Plum’s goal is to double that number over the next 12 months. The brand is planning to expand its online presence and offline footprint across India and further scale its production, launch innovative new products and employ great talent under its leadership team.
Excited about this new partnership, Rashmika Mandanna added, “Plum has been one of my favorite brands – it does what it says. I am excited to represent and also come on board as an investor, supporting a brand that is passionate about adding real goodness to the world we live in! Plum has witnessed stupendous growth over the last few years and I am confident that the brand will become the ‘go-to’ vegan brand in time to come. Plum creates no-nonsense products which our skincare really needs right now – with our fast-paced lives and exposure to sun and pollution. I’ve been using Plum’s products myself and I absolutely love them. I am really excited to bring some skincare love and goodness to everyone’s homes!”
Commenting on the announcement, Shankar Prasad, CEO, and Founder at Plum said – “We are delighted to have Rashmika on board as we look forward to reinforcing our brand connect with consumers. She is a popular youth icon and fits very well with the brand ethos of Plum, with her real, approachable persona. This partnership is an important milestone as we continue to build Plum into a lovable brand that stands for keeping things clean, real and good.”
Rashmika’s investment follows a $35 million funding round led by A91 Partners in March 2022. To date, Plum has raised over $50 million from consumer-focused institutional investors, which portends its future growth as the category leader in the new-age, D2C beauty space.
Originally published at cineblitz.in