Skincare start-up Plum eyes Rs 100 crore revenue by 2023

By

Maverick Martins

Published
Jan 1, 2019

Skincare start-up Pureplay Skin Sciences (India) Pvt Ltd, which sells skin and hair care products under brand Plum, is looking to strengthen its online and offline retail channels and has set a revenue target of Rs 100 crore (approx $14.4 million) by 2023.

The company is looking to expand its retail presence across India and looks to reach around 800 stores over the next three years. It currently gets 75 percent of its revenue from online sales with the remaining 25 percent coming from offline retail channels.
 
With the retail expansion, the company expects offline sales to contribute around 60 percent to the overall revenues in another three to four years.

“Growing at 35% rate every quarter, the company currently serves more than 80,000 customers per month, across online and offline retail channels. We want to achieve Rs 100 crore turnover in the next five years,” Shankar Prasad, founder, and director at Plum told Livemint.
 
“We are also selling through small to mid-size standalone beauty stores across cities. We have around 100 Plum assisted shops, which will grow to 700-800 shops over the next three years. Currently, 25% of our sales come from offline retail this will go up to 60% in another three to four years,” Prasad added.
 
Plum was launched in 2013 as a small-scale skincare start-up designed to tap into India’s growing beauty industry. The brand retails natural beauty products such as facial washes and scrubs, cleansers, shampoos, face masks, and more.
 
The brand forayed into offline distribution last year and now retails through a network of multi-brand beauty and wellness distributors.