Purplle, an IvyCap Ventures-backed online marketplace for beauty products and spa and salon services, is closing a Series-B round of around $6 million with participation from JSW Ventures, existing investors and another investor who’s likely to join in.
While speaking about the development, Manish Taneja, cofounder of Purplle.com mentioned,
“We will continue to be a marketplace as it is very difficult to predict which SKUs do well in the beauty segment. Our focus will be on enabling sellers who stock upto 15 days inventory with us in our warehouses for insight on price elasticity and sales,”
He further added,
“Offline we wouldn’t do a store model but will create an experience using Virtual Reality to help buyers experience different products. These are the plans for the next 8 to 12 months,”
The company will use some part of the capital to set up a warehouse in Bengaluru to serve the Southern market which makes up 15 per cent of its annual GMV of Rs 150 crore.
Purplle is a one stop destination to cater to all your cosmetic needs. You can get beauty products delivered to your doorstep at the click of a button. Not just that, you also get the latest deals & discounts on beauty, skincare, hair care and cosmetic products. In addition to all this you can relax and rewind by booking salon and spa appointments at your neighborhood salon.