Plum primarily operates in the skincare, haircare, and body care categories, which are estimated to be around $10 billion, $3 billion, and $8 billion respectively, and growing in double digits. The brand targets the mid-premium segment of the market, with offerings in the Rs 350-500 price range. The audience size of the target group is estimated to be more than 10 million, and it is also growing healthily.

“On a net revenue basis, we have crossed Rs 300 crore in full year FY23 and are currently averaging an ARR of over Rs 400 crore per year. We are also backed by strong in-house consumer insight and product development skillsets, which enable us to continue to innovate and delight our customers,” said Shankar Prasad, Founder & CEO, Plum.

Journey So Far

Plum, India’s 100 percent vegan and online-only beauty brand, was launched in 2014, marking a significant milestone in the beauty and personal care (BPC) industry. By 2016, the company had turned profitable, and in 2017, it won its first award at The Nykaa Femina Beauty Awards, coinciding with its expansion into offline retail.

In 2018, Plum secured Series A funding from Unilever Ventures, followed by the launch of its haircare line in 2019. The company continued its growth trajectory with Series B funding from Unilever Ventures and Faering Capital in 2020.

The following year, Plum opened its first Exclusive Brand Outlet (EBO). Its expansion was further bolstered in 2022 with Series C funding from Unilever Ventures, Faering Capital, and A91 Partners. By 2023, the brand had extended its reach internationally, launching in the UAE and other countries.

Spreading Wings

Plum is among the top brands in the online marketplaces, which includes horizontal, beauty specialists, and quick commerce players. It also has a strong D2C presence through its website and the Plum Goodness app which has a loyal customer base.

The brand is also present through over 1300 assisted counters and nearly 10,000 unassisted outlets in offline retail in over 300 towns and cities across India. It also has over 35 EBOs in operation at the moment.

“Our online business contributes about 65 percent of our total business, while offline contributes around 35 percent,” stated Prasad.

Tech Integration

Most of the brand’s technology resides in its D2C operation, which uses the following technology levers:

Personalization of Experience: The brand is working on customization of the home page, offers, and product offerings based on the customer's purchase/browsing history.

Ease of Choice from the Vast Range of Products Available: Starting with integrated product videos from social media, chatbot, and one-click consultation, Plum is working to solve the problem of choice faced by the customers of today.

One Plum: The customer interacts with the brand at multiple touchpoints, such as social media, online marketplaces, retail stores, EBOs, D2C platforms, and so on. As far as possible, the consumer’s experience with the brand has to be seamless, and its view of consumers should be, too.

READ MORE: Building a Successful D2C E- commerce Brand: Strategies for Growth

Future Plans

Plum aims to become the brand of choice for millions of Indians aspiring for clean, effective, science-driven beauty and personal care products that delight and deliver. “We plan to do this by doubling down on what we do well – which is to craft experiences based on our understanding of consumer needs, and our in-house expertise in product development, distribution, and building brand love,” asserted Prasad.

“In terms of numbers, we are targeting a 35-40 percent topline growth, while remaining profitable,” he further added.