Ecommerce firm , which deals in beauty and personal care products, on Thursday, said it has acquired 100 percent stake in the Indian arm of cosmetics and skincare brand Faces Canada. The deal size was not disclosed.
The brand will join Purplle’s cohort of owned and acquired beauty brands including, Good Vibes, Carmesi, and NYbae. With this acquisition, Purplle will expand its consumer offerings with a superior international makeup portfolio.
Manish Taneja, Co-founder and CEO Purplle.com said,
“We are pleased to welcome FACES CANADA to the Purplle family. The brand perfectly embodies the philosophy that we truly stand by, making the best of beauty accessible to all. With a strong existing portfolio, this acquisition will elevate our makeup portfolio with international high-quality innovative products.
“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 diverse set of consumers,” added Manish.
Founded in 2012, Purplle has a strong catalogue with 1,000+ brands and 50,000 offerings, across categories including, makeup, skincare, haircare, personal care, fragrances, and grooming appliances. The platform claims to have over seven million monthly active users and expects to end the financial year 21-22 with an annualised GMV run rate of 1,400 crore.
Earlier this year, Purplle closed $140 million in Series D funding from Premji Invest, Kedaara Capital, Sequoia Capital India, and Blume Ventures in 2021.
With the growth in customer personalisation, this acquisition further strengthens Purplle’s footprint offering a comprehensive collection of unique and differentiated products.
Kunal Gupta, CEO, Faces Canada, stated,
“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 most comfortable International quality cosmetics accessible for Indian consumers, and provide an enhanced personalised beauty experience.’’
Faces Canada offers an exclusive array of high-quality makeup and skincare products. It will continue to operate independently and extend its existing portfolio under Purplle.com, stated the company statement.
