Mumbai based e-commerce platform Purplle acquires cosmetic brand FACES CANADA
- ByTejika Bajaj | December 20, 2021
Mumbai based e-commerce platform Purplle recently announced that it has acquired a 100 percent stake in the Indian arm of the cosmetic and skin care brand FACES CANADA. The details of the deal remain undisclosed by the company officials.
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. Following the acquisition, the cosmetics brand will continue to work independently.
Commenting upon the recent round of acquisition, the co-founder and CEO of Purplle.com, Manish Taneja stated, “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 a diverse set of consumers.”
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.
Expressing his views on the recent acquisition, the CEO of FACES CANADA, Kunal Gupta said, “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.’’
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