Direct-to-consumer (D2C) beauty and personal care brand Plum is preparing for what could become the largest single fundraising by an Indian standalone beauty brand, appointing global investment bank Rothschild & Co to raise $75 million to $100 million (around ₹645–860 crore) from new and existing investors. The fresh capital is expected to fuel the company’s next phase of growth through offline retail expansion, product launches, and brand building as competition intensifies in India’s fast-growing beauty market.
According to people familiar with the matter, the fundraising process is still in its early stages, with Plum and Rothschild already initiating discussions with potential investors. If successful, the round would surpass previous fundraises by standalone Indian beauty and personal care brands, reflecting growing investor confidence in India’s premium beauty and skincare sector.
Record Fundraise in the Making
Plum’s parent company, Pureplay Skin Sciences (India) Pvt. Ltd., has mandated Rothschild & Co to manage the fundraising process.
| Fundraising Details | Information |
|---|---|
| Company | Plum |
| Parent Company | Pureplay Skin Sciences |
| Investment Bank | Rothschild & Co |
| Target Raise | $75–100 million |
| Estimated Value | ₹645–860 crore |
| Status | Discussions with investors underway |
The company has not officially commented on the fundraising plans.
Capital to Fuel Offline Expansion
The proceeds from the proposed investment are expected to support Plum’s expansion beyond its strong digital presence.
Key areas where the company plans to invest include:
- Expanding exclusive brand outlets.
- Strengthening offline retail distribution.
- Launching new skincare and beauty products.
- Increasing marketing investments.
- Enhancing omnichannel capabilities.
Industry experts say offline retail continues to play an important role in beauty product discovery, even as online sales remain strong.
From Digital-First Startup to Omnichannel Brand
Founded in 2013 by Shankar Prasad, Plum began as one of India’s earliest online-first vegan skincare brands.
Over the years, it has expanded into multiple categories, including:
| Product Categories |
|---|
| Skincare |
| Haircare |
| Body Care |
| Personal Care |
| Makeup |
Today, Plum sells products through its own website, major e-commerce marketplaces, quick commerce platforms, modern retail stores, and an expanding network of exclusive brand outlets. The company currently offers more than 500 stock-keeping units (SKUs) and operates around 35 exclusive stores across India.
Financial Performance Improves
The fundraising comes after Plum reported a significant improvement in its financial performance.
According to Tracxn data cited in the report:
| FY25 Financials | Value |
|---|---|
| Revenue | ₹418.6 crore |
| Revenue Growth | 22.5% YoY |
| Net Profit | ₹24.7 crore |
| FY24 Net Result | ₹84.1 crore loss |
FY25 marked the company’s first full year of profitability, representing a major milestone as it transitions from a high-growth startup into a profitable consumer brand.
Strong Backing From Existing Investors
Plum has already raised more than $50 million from institutional investors.
Its most recent funding round took place in March 2022, when it secured $35 million in a Series C round led by A91 Partners, with participation from Unilever Ventures and Faering Capital. That round reportedly valued the company at approximately $250 million.
India’s Beauty Market Attracts Investors
The fundraising reflects growing investor interest in India’s beauty and personal care sector, which continues to outpace several other retail categories.
According to Redseer Strategy Consultants, cited in the report, India’s beauty and personal care market is projected to grow from approximately $23 billion in FY25 to nearly $40 billion by FY30.
| Market Outlook | Estimate |
|---|---|
| FY25 Market Size | $23 billion |
| FY30 Projection | $40 billion |
| Growth Driver | Premiumization, digital commerce, rising disposable incomes |
The market is benefiting from increasing consumer spending on skincare, cosmetics, premium grooming products, and wellness-focused personal care offerings.
Competition Continues to Intensify
Plum operates in one of India’s fastest-growing consumer categories, competing with established FMCG companies as well as digital-first beauty brands.
The sector has witnessed increased investment from venture capital firms, private equity funds, and strategic investors, driven by strong consumer demand, omnichannel retail growth, and rising adoption of premium beauty products.
As competition intensifies, companies are increasingly investing in exclusive retail stores, product innovation, influencer marketing, and quick commerce partnerships to strengthen market share.
What It Means for Plum
If completed, Plum’s proposed $75–100 million fundraising would represent a landmark transaction for India’s beauty startup ecosystem. The fresh capital would provide the company with resources to accelerate offline expansion, broaden its product portfolio, and strengthen its omnichannel presence while building on its newly achieved profitability.
The planned fundraise also reflects broader investor confidence in India’s beauty and personal care industry, where premium skincare, digital-first brands, and omnichannel retail strategies continue to drive rapid growth. As consumer preferences evolve and the market expands toward an estimated $40 billion by FY30, well-established brands like Plum are positioning themselves to capture the next phase of industry growth.
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