Private equity interest is intensifying around Purplle Cosmetics, with several large buyout and growth investors exploring a minority investment in the Indian beauty platform, according to people familiar with the discussions. The proposed transaction could peg the company’s valuation at nearly ₹13,000 crore, or about $1.5 billion, marking a step-up from its last funding round in 2024.
KKR, TPG Growth and ChrysCapital are understood to be holding separate conversations to acquire a minority stake in the omnichannel beauty retailer. While the exact stake size is yet to be finalised, the transaction is expected to involve an investment of roughly ₹1,800 crore through a combination of fresh capital and secondary share purchases. As part of the deal, some early-stage venture capital and angel investors are likely to partially monetise their holdings.
Purplle was last valued at approximately ₹10,000 crore when Abu Dhabi Investment Authority led a ₹1,500 crore round in 2024. Since its inception in 2012, the Mumbai-based company has raised close to $560 million across multiple funding rounds and built a diversified shareholder base that includes ADIA, Kedaara Capital, Premji Invest, Peak XV Partners, Verlinvest, Blume Ventures and others.
Founders Manish Taneja, Rahul Dash and Suyash Katyayani together hold about 15.6 percent of the company, while institutional investors control close to two-thirds of the equity. Verlinvest is currently the single largest shareholder.
Purplle operates a hybrid model, combining third-party brand sales with a strong portfolio of private labels such as Faces Canada, Alps Goodness, Good Vibes, Carmesi and NY Bae. The platform hosts over 1,000 brands and more than 60,000 products, serving around seven million monthly active users. It employs nearly 3,000 people across its operations.
The company reported revenue of ₹1,410 crore in FY25 and competes with players such as Nykaa, Tira, Good Glamm, Pilgrim and Innovist in a market that continues to attract investor capital. India’s beauty and personal care sector is projected to grow at a compounded annual rate of over 10 percent to reach $34 billion by 2028, with e-commerce emerging as the fastest-expanding channel.
