Pushpa actor Rashmika Mandanna Backs D2C Vegan Startup Plum

• ByStartupStory     |    June 23, 2022

Rashmika Mandanna, an actor, has joined as an investor and brand ambassador for the D2C Vegan beauty and personal care startup Plum, based in Maharashtra. This comes at a time when the brand’s goal over the next 12 months is to double its annual recurring revenue (ARR). The brand claims that the collaboration with Mandanna will facilitate the development of new pathways for consumer acquisition. Also, the company will work to increase its visibility among millennials and members of Generation Z.

Mandanna remarked in response to the investment, “I am excited to represent and also come on board as an investor, supporting a company that is passionate about adding real goodness to the world we live in.  Over the past several years, Plum has experienced phenomenal growth, and I have no doubt that in the future, the company will be known as the “go-to” vegan brand.”

Plum is a direct-to-consumer (D2C) vegan company that was established in 2013 by Shankar Prasad. It offers a variety of goods in the skin, hair, men’s, personal care, and beauty categories. It utilises an omnichannel business model and offers goods on its website as well as on other e-commerce sites including Amazon, Flipkart, Nykaa, and Purplle.

Plum operates more than 10,000 exclusive brand outlets (EBOs) throughout 250 cities in India, with close to 1000 multi-brand outlets (MBOs). The firm claims to have an annual revenue rate (ARR) of roughly INR 300 Cr, which it intends to increase over the course of the following 12 months. Plum is currently trying to scale its production and increase its omnichannel presence throughout India. It stated that it would introduce more new goods and hire top personnel from other industries.

In its Series C funding round, which Plum completed in March, A91 Partners, Unilever Ventures, and Faering Capital invested $35 Mn. It received INR 110 Cr in Series B funding from Faering Capital, Trifecta Capital, and Unilever Ventures earlier in 2020. Plum faces competition with RENEE Cosmetics, Bare Anatomy, and WOW Skin Science.

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