Omnichannel beauty retailer Purplle group has raised ₹1,000 crore funding led by subsidiary of Abu Dhabi’s sovereign fund ADIA (Abu Dhabi investment authority), along with participation from other investors, which includes a combination of primary and secondary shares.

Alongside this funding round, Purplle has also announced its largest-ever Employee Stock Ownership Plan (ESOP) liquidity program and will offer liquidity of ₹50 crore to its employees.

In the beauty and personal care (BPC) segment, having grown its GMV by 4x over the last three years. The company serves the beauty needs of customers in tier-2, -3 and micro-markets, expanding beyond metro cities.

Purplle is operationally profitable and expects to grow its online platform faster than the industry while scaling offline stores and improving profitability, said the company in its statement.

“It is our mission to democratize beauty and make it accessible to all, and while we have reached many beauty enthusiasts across India, we still have a long way to go. We will constantly innovate and leverage our technology and data capabilities to provide our customers with the best omnichannel 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,” said Manish Taneja, Co-Founder & CEO at Purplle.

The omnichannel beauty retailers has granted ESOPs to 320 employees up to date, and 85 of them have liquidated ESOPs worth ₹75 crore over three buyback programs. In the largest-ever ESOP liquidity programme announced, 26 per cent of its beneficiaries are women.

Founded in 2012 by Manish Taneja and Rahul Dash, Purplle joined the unicorn club in 2022 after raising $33 million in a Series E funding round from South Korean investment firm Paramark Ventures, along with Premji Invest, Blume Ventures, and private equity fund Kedaara.

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