Purplle plans offline push amid talks to raise $100 million from Abu Dhabi fund
₹508.6 crore in FY23 while losses widened 13% to ₹230 crore, according to the company's latest filings sourced from Tofler. The company claims to have been profitable in the past two quarters but has not disclosed any figures. Lowering marketing spends and logistics costs has contributed much of the company’s growth and profitability of late, Taneja said.
"We have moved closer and closer to our customers. We try to ship products from the nearest warehouse and that reduces our logistics cost. so that is a big direct cost that comes down," he added.
Although it continues to spend on acquiring new users, it receives more than 75% of its revenue from repeat customers, he added. Purplle has also expedited its growth through a couple of acquisitions in the past few years. The company acquired cosmetics and skincare brand Faces Canada in December 2021 to get more private labels on its platform.
It has also acquired content company Glamrs and female-hygiene brand Carmesi. While the company has no plans for more acquisitions, industry watchers have said there is scope of consolidation in the industry. Market-research firm Statista estimates that India's beauty & personal care will generate revenues of $31.51 billion in 2024 and grow at 3% a year until 2028.
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