Actress Rashmika Mandanna invests in magnificence model Plum

Vegan magnificence and private care model Plum mentioned on Thursday that actress Rashmika Mandanna has come on the scene as an investor and model ambassador. This occurs at a time when the model goals to double its annual recurring income (ARR) over the subsequent 12 months.

The model mentioned this partnership with Pushpa: The Rise well-known actor will allow it to create new avenues for buyer acquisition, particularly with Gen Z and the millennial viewers. It didn’t reveal the quantity of funding.

Shankar Prasad, CEO and founding father of Plum mentioned that because the first spherical of funding in 2018, the model has grown nearly 15x. “We’re delighted to have Rashmika on board as we look ahead to strengthening our model reference to shoppers. She is a well-liked youth icon and suits very properly with Plum’s model ethos along with her actual, welcoming persona,” he added.

Increasing on-line presence

“At a present ARR of round INR 300 million on a web income foundation, Plums goals to double this determine over the subsequent 12 months. We plan to broaden our on-line presence and offline footprint throughout India and additional scale up manufacturing, launch revolutionary new merchandise and rent nice expertise, ”he added.

The model is bought throughout key e-commerce marketplaces similar to Amazon, Flipkart, Nykaa and Purplle. Additionally it is accessible in over 250 cities and cities in India by way of nearly 1,000 assisted retail shops and over 10,000 unassisted shops.

Mandanna’s funding follows a $ 35 million spherical of funding led by A91 Companions in March 2022. Thus far, Plum has raised over $ 50 million from consumer-focused institutional buyers.

Printed on

June 23, 2022

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