Beauty ecommerce space Purplle records swelling losses of INR 51 Cr in FY21
- ByStartupStory | April 19, 2022
Mumbai-based online beauty start-up, Purplle, reports a surge in its loss to INR 51.27 Cr in FY21 from INR 24.38 Cr in the FY20.
However, the start-up reported a 40 percent jump in the revenue from operations to INR 127.19 Cr in FY21, surging the total income of the year to INR 138.11 Cr against INR 98.70 Cr reported in FY20.
While Purplle’s revenue from the sale of products recorded a huge YoY decline of over 45 per cent in FY21 to INR 7.23 Cr, it witnessed a 52 per cent growth in the revenue from its services to INR 79.02 Cr for the FY21.
Ecommerce platform saw a year on year jump of over 61 per cent to INR 39 Cr in FY21. Also, there was an increase in the generation of revenue from membership and subscription services to INR 1.3 Cr in FY21 from the previous year’s INR 51.2 lakhs.
Purplle recorded a 54 percent swell in its total expense to INR 189.37 Cr in FY21, which includes a 53.5 percent upsurge in FY21 in advertising and promotional expenses, among others.
Started by Manish Taneja and Rahul Dash in 2011, Purple raised around INR 368 Cr in its Series D round from the family office of Wipro founder Chairman Azim Premji, last November. It is also backed by Goldman Sachs.
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