Purplle doubles operating revenue to Rs 1,367 Cr in FY25; losses shrink
- ByStartupStory | January 23, 2026
The last five years have been defining for omnichannel beauty platform Purplle, marked by aggressive growth, rapid expansion, acquisitions, and consistent fundraising. The Mumbai-based company’s revenue trajectory alone captures this transformation, scaling from Rs 128 crore in FY21 to Rs 1,367 crore in FY25.
However, FY25 stood out as an exceptional year for Purplle. The company more than doubled its operating revenue to Rs 1,367 crore in FY25 from Rs 680 crore in FY24, according to its consolidated financial statements sourced from the Registrar of Companies (RoC).
Founded in 2012, Purplle operates through a dual business model comprising a third-party marketplace and a growing portfolio of private labels. Its owned brands include Faces Canada, Good Vibes, Alps Goodness, Carmesi, and DermDoc. The company’s online platform caters to over 10 million monthly active users, supported by nearly 20,000 offline touchpoints across India.
A closer look at revenue composition shows that the sale of owned-brand products remained the primary growth engine, contributing 82.5% of operating revenue. Income from this segment surged 4X to Rs 1,129 crore in FY25. In contrast, marketing income, earned by offering visibility and promotional services to third-party brands across Purplle’s online and offline platforms, declined 22.2% to Rs 225 crore during the year.
The remaining operating income came from royalty and membership fees collected on a pro-rata basis. Purplle also reported Rs 45 crore in other income, largely from interest, taking its total income to Rs 1,409 crore in FY25.
Among its subsidiaries, Manash E-Commerce Private Limited emerged as the largest contributor, generating Rs 989 crore in revenue during FY25. Faces Canada, acquired in 2021, contributed Rs 373 crore, while Newgen Internet Private Limited (Glamrs) added Rs 4 crore to Purplle’s operating income.
On the expense front, rising product sales led to a sharp increase in procurement costs, which jumped 5.6X to Rs 671 crore in FY25. Employee benefit expenses declined marginally by 7% to Rs 176 crore during the year. Advertising remained a significant cost head, with Purplle spending Rs 218 crore, while transportation expenses stood at Rs 100 crore.
Other overheads, including rent, legal fees, and miscellaneous expenses, pushed the company’s total expenditure up by 74% to Rs 1,478 crore in FY25 from Rs 849 crore in FY24.
At a unit level, Purplle spent Rs 1.08 to earn every rupee of operating revenue in FY25. Its EBITDA margin and ROCE improved to -7% and -4.1%, respectively. As of March 2025, the company’s current assets stood at Rs 1,377 crore, including cash and bank balances of Rs 273 crore on a consolidated basis.
To date, Purplle has raised over $500 million in funding, including a $180 million Series F round led by a subsidiary of the Abu Dhabi Investment Authority (ADIA), with participation from existing investors such as Premji Invest and Blume Ventures.
The topline momentum is taking it very close to where Nykaa was at the time of its IPO in FY21, perhaps as early as FY26 numbers. That would place it very well to go public, as controlling expenses from here on should be easier at the scale it has. Procurement costs can be expected to moderate perhaps, as they tend to be closer to 30-35% of sales or lower in the beauty business, and may perhaps reflect portfolio oddities. But have no doubt that Purplle has cracked the code for growth, and seems very close to becoming a profitable firm that could move to the next level post an IPO, especially if the investors delay an OFS in favour of a fund raise for the firm.
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