Actor Rashmik Mandan invests in cosmetics model Plum

Vegan magnificence and private care model Plum stated on Thursday that actor Rashmik Mandan has develop into an investor and ambassador for the model. This comes at a time when the model is seeking to double its annual common earnings (ARR) over the following 12 months.

The model has introduced this partnership with Pushpa: Rise the well-known actor will permit him to create new methods to draw clients, particularly with Technology Z and the millennial viewers. He didn’t disclose the quantity of funding.

Shankar Prasad, CEO and founding father of Plum, stated that after the primary spherical of funding in 2018, the model has grown nearly 15 instances. “We’re happy that Rashmika is on board, as we stay up for strengthening our model’s relationship with customers. She is a well-liked youth icon and matches very effectively into the ethics of the Plum model, for her actual, accessible persona, ”he added.

Increasing your on-line presence

“With the present ARR round ₹ 300 crore based mostly on web earnings, Plum’s aim is to double that quantity over the following 12 months. We plan to increase our on-line presence and offline presence throughout India, in addition to additional scale manufacturing, launch modern new merchandise and make use of nice expertise, ”he added.

The model is offered in key e-commerce markets equivalent to Amazon, Flipkart, Nykaa and Purplle. It’s also obtainable in additional than 250 cities in India, by nearly 1,000 assisted shops and greater than 10,000 unassisted shops.

Mandana’s funding got here after a $ 35 million spherical of funding from A91 Companions in March 2022. Plum has to date raised greater than $ 50 million from consumer-oriented institutional traders.

Posted on

June 23, 2022

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