Purplle adds Faces Canada to its portfolio
Premium- The brand will join Purplle’s portfolio of owned and acquired beauty brands including, Good Vibes, Carmesi, and NYbae
NEW DELHI : Online beauty retailer Purplle.com has acquired the India business of cosmetics and skincare brand Faces Canada from venture capital firm Sequoia Capital India.
Faces Canada sells its products across more than 140 cities and towns in India comprising more than 1,500 cosmetic stores and modern trade outlets. It is also available at e-commerce sites such as Purplle, Amazon, Flipkart and Myntra.
The brand will join Purplle’s portfolio of owned and acquired beauty brands such as Carmesi, Good Vibes and NYbae, the company said in a statement.
The deal will elevate Purplle’s makeup portfolio, said Manish Taneja, co-founder & CEO, Purplle.
“With the largest acquisition of a makeup brand by a new-age beauty company in India, we look forward to a sustained partnership," he said.
The deal follows Purplle closing in November a $140 million Series D funding round from Premji Invest, Kedaara Capital, Sequoia Capital India and Blume Ventures.
Founded in 2012, Purplle has a catalogue of over 1,000 brands and 50,000 products across makeup, skincare, haircare, personal care, fragrances and grooming appliances categories. It claims to have over 7 million monthly active users.
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Faces Canada, an over 40-year-old Canadian cosmetics brand, sells a range of mid-priced cosmetics in India. In 2007, the brand was acquired by Indivision India Partners and launched in India in 2009. In 2017, Sequoia India agreed to acquire Faces along with its international units and the ‘Faces’ brand from Indivision India Partners, managed by PE firm Everstone Capital, for an undisclosed amount.
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