New partnerships
As part of the strategic marketing agreement, the online beauty marketplace will exclusively sell European beauty names, Moda and Vipera and their responding product portfolios through its digital platform and physical retail stores.
Based out of Turkey, 15-year-old Moda Cosmetics produces a wide range of colour cosmetics including lipsticks, lipgloss, nail paints, eyeliner, compact, concealers and mascara, and is currently available to over 50 countries.
Award-winning cosmetics company, Vipera, was launched in Poland and promotes its high-quality lipsticks, eyeliners, mascara, lip balm, highlighters and derma cosmetic product range.
While the brand already sells its collection across certain parts of Asia, along with Europe and the Middle East, it now focuses its global expansion plans towards India and Southeast Asia.
Welcoming overseas brands
As the exclusive domestic distributors for both Moda and Vipera, this move will serve to solidify Purplle’s position as a multi-brand platform that provides a fruitful opportunity for brands located in Europe and further afield to expand their presence overseas.
Over the past five years, the company has received $7 mn (€5.97 mn) funding from Blume Venture Advisors, IvyCap Ventures and JSW Ventures. Following this injection, Purplle has dedicated its investment towards building its brand portfolio and harnessing technological activities to better engage with both brands and consumers.
“We are extremely excited to bring Moda and Vipera to India,” enthused Manish Taneja, Co-Founder & CEO, Purplle.com to retail news site, Indiaretailing.com.
“It has been our endeavour to offer a wide array of choices to our patrons, across product categories and price ranges. Moda and Vipera are very popular in Europe and it was time Indians got to benefit from their world-class products. The price points have been consciously kept affordable, like most products on Purplle,” noted Taneja.
India predictions: set for a slow down?
Global players dominated the beauty and personal care sectors in India in 2016, research firm, Euromonitor International, revealed. Extensive portfolios, fair and reasonable price points that reflected the economic landscape and solid distribution networks were considered key factors that contributed to the success of the sector in India.
However, Euromonitor predicted that the country’s value growth would be slower over the forecast period than it was over the review period, with brands prioritising the launch of necessary household personal care items.
As a result, India may now be starting to see an influx of items from overseas European brands. These will aim to spark growth by appealing to the mass and premium trends enjoyed by Indian consumers.