Purplle group raises Rs 1,000 crore from Abu Dhabi Investment Authority arm
Omni-channel beauty platform Purplle Group on Monday announced raising Rs 1,000 crore in a funding round led by a wholly-owned subsidiary of Abu Dhabi Investment Authority (ADIA).
Other investors also participated in the funding and the fresh capital was raised through a combination of primary and secondary shares issuance, according to a statement from Purplle Group.
Besides, Purplle has also announced a Employee Stock Ownership Plan (ESOP) liquidity programme and will offer liquidity of Rs 50 crore to its employees.
Purplle Co-Founder & CEO Manish Taneja said: "We will constantly innovate and leverage our technology and data capabilities to provide our customers with the best omni-channel experience. In increasing its shareholding in Purplle, ADIA has continued to support us as we pursue our vision of building a sustainable and profitable business."
Purplle is one of the fastest-growing retailers in the beauty and personal care (BPC) segment, having grown its GMV by four times ..