E-Commerce Firm Purplle Acquires Cosmetics Brand Faces Canada 

Purplle, an online retailer adds Faces Canada, a beauty and skin care brand to its portfolio with various other brands like Good vibes, Carmesi and NY bae after it received $140 million in series D funding from Azim Premji, Kedaara Capital, Sequoia Capital India and Blume Ventures earlier this year. 

Key Takeaways

• Purplle acquired various beauty and skin care brands, Faces Canada being the most popular one.
• Purplle received funding from Azim Premji, Kedaara Capital, Sequoia Capital India and Blume Ventures for the acquisition.
• Purplle already had a catalogue of 100 plus brands and around 50,000 products in its portfolio.
• It offers categories like makeup, skin care, hair care, personal care, fragrances and grooming appliances.
• Manish Taneja, co-founder and CEO of Purplle looks forward to moving on the next level with this acquisition, it will also help them tap a diverse set of customers.

Faces Canada has been acquired by Purplle, online skin care and personal care platform. This acquisition could be possible only after Purplle received $60 million funding from Wipro founder and chairman, Azim Premji. After being funded, Purplle has now become a $630 million brand. Both the companies are funded by Sequoia Capital. With this acquisition, Purplle aims at building a multibillion dollar company by strengthening its footprint in the cosmetic industry, offering a comprehensive collection of unique products. 

Purplle was founded in 2012 by Manish Taneja and Rahul dash. Manish Taneja, co-founder and chief executive of Purplle.com has high expectations from Faces Canada regarding international exposure. Azim Premji, founder of Wipro has been a new investor in the expansion of Purplle, and because of his contributions the Apart from Faces Canada, Purplle has acquired various brands including NYbae, Carmesi. Other investors backing Purplle in the acquisition are  Kedaara Capital, Sequoia Capital India and Blume Ventures in 2021. Purplle has over 7 million monthly active users. Yami Gautam is the brand ambassador of Purplle with the private label of Good Vibes.

Faces Canada entered the Indian market in 2009. Its products have been manufactured in Germany, Turkey and Italy. It sells mid range as well as high range cosmetics and skin care products in India. FacesCanada has been a beauty and skin care brand for the past 40 years and has received global recognition for its quality products. It claims to be a cruelty free brand and has skin care products for every skin type. They have different products for varied skin tones all over the world. Faces Canada will continue to operate as an independent brand as well as contribute to the expansion of the existing portfolio of brands under Purplle. 

Faces Canada sales in more than 140 cities and towns in India. It has more than 1,500 cosmetic stores and modern trade outlets. Faces Canada products are also available at various e-commerce sites such as Purplle, Amazon, Flipkart and Myntra. Economic Times was the first to report the acquisition of Faces Canada by online retailer Purplle. The deal size could not be disclosed yet.