Plum taps Rothschild for record $100 mn raise to fund offline push
D2C beauty brand Plum (Pureplay Skin Sciences) has hired Rothschild & Co to lead a $75-100 mn fundraise, its largest yet, aimed at expanding its 35-store EBO footprint and launching new products. Comes amid heavy consolidation in India's BPC market against rivals Minimalist, Mamaearth and Purplle.
What happened
D2C beauty brand Plum has hired Rothschild for a record $75-100 mn raise to expand offline presence and launch products, amid heavy consolidation in India's
Key facts
- $75-100 mn fundraise
- $50 mn raised to date
- $35 mn Series C 2022
- $250 mn valuation 2022
- FY25 revenue ₹418.6 cr
- 22.5% revenue growth
- net profit ₹24.7 cr
- 35 EBOs
- 500+ SKUs
Why this matters
Rothschild's mandate and heavy consolidation against Minimalist, Mamaearth and Purplle position Plum as either a consolidator or a premium acquisition target—watch whether this capital funds organic offline scale or an M&A land-grab in India's fragmenting beauty market.
What to watch
- Announced valuation and final raise size vs $100mn target
- EBO count trajectory over next 12-18 months
- FY26 revenue growth sustaining above 20% with profitability intact
- Any competing consolidation deals in Indian BPC
- Same-store sales and offline contribution to total revenue
- Rothschild runs investor roadshow targeting growth PE and sovereign funds
- Plum accelerates EBO site acquisition in metros and tier-2 cities
- New SKU launches in skincare/color cosmetics to justify offline shelf space
- Rivals (Minimalist, Mamaearth, Purplle) counter with their own offline or marketing pushes
- Modern trade and quick-commerce distribution tie-ups to complement EBOs