Leadpreneur's
18 Mar 2023
Success Story of Plum Goodness...
Clean, Real, Good
Plum was one of the first startups in the “clean beauty” and skincare industry. They are among the companies that introduced the idea of cruelty-free and vegan products in India.
About Plum:
Plum is a science-based cosmetics and grooming brand that sells vegan and animal-free goods. Its products are made with what they refer to as "good science," plant-derived active ingredients.
Founder, Founding Year, and HQ Location:
Plum, located in Thane, was founded in 2014 by Shankar Prasad.
Product Marketing countries:
Currently, the brand solely markets its goods in India.
Business Model- Plum is a D2C brand.
D2C is an acronym for direct-to-consumer. A company manufactures a product in its own facilities and distributes it through its own channels. These channels might include an e-commerce site, social media, and a physical store. It is applicable to practically every industry.
Growth:
Over 500,000 consumers use the direct-to-consumer (D2C) brand each month. Plum offers a variety of cosmetics, skincare, haircare, and personal care products that are vegan, cruelty-free, and devoid of toxins.
It offers sales on both its own website and those run by Nykaa, Amazon, Flipkart, and Purplle. Its offline presence is present in 250 Indian towns and cities through more than 10,000 unaided outlets and close to 1,000 supported outlets like Shoppers Stop (such as grocery stores).
Online marketplaces and Plum's own website account for 60% of sales, with offline points of sale accounting for 40%. Plum has introduced two new brands in the past two years: Plum BodyLovin', a line of bath and body products, and Phy, a men's grooming line.
Investments:
Plum is backed by five investors. The most recent investors are Rashmika Mandanna and Unilever Ventures.
Total Revenue:
In all, Plum has raised $50.2M in investment over 4 stages. On June 23, 2022, they received funds from an Undisclosed round.
Marketing Strategies:
Influencer marketing is a crucial component of Plum's strategy. For various promotions, the vegan skincare and cosmetics line collaborates with a significant number of influencers to increase awareness and reach.
For several of its well-known goods, like Plum Vitamin C Serum, Plum Green Tea Face Wash, and Grape Seed and Buckthorn Oil, the company has lately undertaken a number of campaigns.
To advertise their Plum Green Tea Face Wash, the business enlisted the help of personalities including Ankush Bahaguna, Dolly Singh, and Vipasha Malhotra.
Future:
By 2023, the firm intends to expand by opening more than 50 offline locations around.
India as part of a drive to create physical channels and spur growth.