D2C beauty brand Plum has engaged Rothschild & Co to raise between $75 million and $100 million in a new funding round aimed at supporting its offline expansion and new product launches, according to livemint.com. If successful, this round would be the largest ever for a standalone beauty and personal care brand in India.
Plum, which began as a pureplay skincare company, has diversified its portfolio over the years to include haircare, body care, personal care, and makeup products. The company has also evolved into an omnichannel business, blending online and offline sales channels. The fresh capital will help Plum accelerate its growth strategy, particularly by expanding its physical retail presence and launching new products across categories.
The funding round is notable in the context of India's growing beauty and personal care market, which has seen increased investor interest. Plum's move to raise such a significant amount highlights the sector's potential and the shift toward omnichannel models. This round would surpass previous fundraises by standalone beauty brands in India, underscoring Plum's rising prominence in the market.
The company has not disclosed a timeline for closing the funding round. Rothschild & Co's involvement signals a high-profile process, with the potential to set a new benchmark for funding in India's beauty and personal care sector.