100% Indian Vegan Beauty Brand, Plum Raises Rs.110 Crores In Series B Funding

2 December 2020

Plum, Indian 100% vegan skincare and haircare brand, is set to receive funding from Unilever. Plum was founded in 2012 and is spread around 200 cities. The company raised Rs. 110 crores in a Series B funding by Fearing Capital and are expecting to generate a revenue of 200 crore next year. Plum is already serving 2.5 Lac customers and is targetting revenues of Rs. 200 crores next year. Shankar Prasad, the founder and CEO of Plum stated that having Unilever on board will help Plum understand the consumers better, as well as gather more knowledge regarding how to develop their brand, especially with Unilever’s presence in the international market. Unilever’s support is however only financial, and they will not have any involvement in Plum’s operations.

They plan to use the funding to develop and expand their portfolio, focus on stronger online presence, increase customer engagement, and distribution. They wish to reach out to consumers through both virtual and traditional channels and expand their distribution throughout the country. Read a detailed interview with Shankar here.

Plum plans to launch new products launched soon. They recently released a bodycare range called BodyLovin’ which includes scrubs, moisturizers, oils and body butters.