... With all these achievements in its cap, Nykaa also promoted the careers of many YouTube beauty gurus thereby portraying their talent and promoting the career path to the fullest. So, after a lot of confusion of which one should I pick, I got two lip crayons (Real Deal & Sweet Talk) from Nykaa’s Matte-ilicious lip crayon range. We acquire sellers and build those capabilities for them as we do with StayQuirky and many international brands,” Manish says.Purplle’s competitor Nykaa also has a private label in cosmetics. But Satish warns that in cosmetic’s case, offline stores won’t add value unless they are in malls like Ambience Mall.
Our marketing spend is right now at an all-time low; 80% of our revenue now comes from repeat customers,” he says.Investors were impressed not only by the co-founders’ high understanding of the industry, but also by the use of technology to help discover products. But in Purplle’s case, it’s just the opposite. “Flipkart and Amazon are commoditised like Big Bazaar, but vertical players like Purplle are like Health & Glow.
We help discover what is new and unique in each category,” he adds.Purplle claims to have around 20 percent market share in the mass to premium online beauty space.“We will start generating profits from January 2018,” Manish says. Packaging: I like the packaging of Maybelline stick foundation more because of the transparent cap and (comparatively) good plastic material, whereas though Nykaa stick foundation looks classy, it has a very flimsy packaging and you’ll have to turn the base many times to get the product out.
But consumer behaviour gave Purplle its USP.Indians are generally reluctant to have conversations with strangers, including beauty store experts. 8,739 crore.
Purplle’s USP is its product knowledge engine. Nykaa, the online skincare and beauty startup has raised Rs 100 crore. But four months later, Purplle started gaining momentum – with a monthly scale of 30 percent. On the other hand, But there is hope in social media’s impact on the rising Indian middle-class and millennials’ increasing purchasing power. Purplle’s private brand Stay Quirky, which was launched in April 2017, sells on Amazon too, and will soon be available on all online marketplaces and offline stores.“We make 60 percent margin on our private brands, and expect to do Rs 10 crore business from private brands in FY18. BENGALURU: Beauty and personal care products marketplace Nykaa, run by FSN Ecommerce Ventures, is looking to add more products and services to reach its goal of turning EBITDA positive by 2017. Almost 60 percent of Purplle’s orders are already from outside metro cities – Jaipur, Ahmedabad, Lucknow, Coimbatore, Cochin, Patiala, and Surat among others.
The trio had debated between furniture and fashion, before settling on beauty.
“We have so far consumed about Rs 30 crore, and GMV of Rs 180-200 crore. In fact, Purplle claims to have broken even operationally last year and states that it would be EBIDTA positive by December 2017.For Manish Taneja, Founder and CEO, Purplle was his second attempt at entrepreneurship. After all, her job is just pushing products and her product knowledge may not be great.” So, due to lack of knowledge, most Indian women use foundation two shades lighter than their face.Due to physical constraints, offline stores cannot stock a lot of products; they push certain brands without knowing anything about the customer. While Purplle follows the marketplace model by on-boarding more than 300 sellers, Nykaa is an online retailer (which also has a few flagship stores).Although Nykaa, as a B2C retailer, owns its private label, Purplle is allowed to do only B2B due to FDI restrictions. Lakme is still the most popular brand here.
With the next 100 million online shoppers expected to come from tier-2 and tier-3 cities, Purplle has a clear advantage.
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