Purplle Group, a Mumbai-based beauty platform available online and in stores, has received Rs 1000 crore in funding. The Abu Dhabi Investment Authority (ADIA) and other investors led the financing.

In addition, the company has announced its largest Employee Stock Ownership Plan (ESOP) liquidity program. Through ESOP, the firm will be offering Rs 50 crore to its employees.

Purplle has experienced significant growth in the Beauty and Personal Care (BPC) segment. This has led to an increase in its Gross merchandise value (GMV) by around four times over the last three years.

The company serves customers’ beauty needs in smaller markets beyond metro cities, and it is making profits in its operations. It aims to grow its online platform faster than the industry, expand offline stores, and improve profitability.

Manish Taneja, Co-Founder and CEO at Purplle, expressed his goal to make beauty products accessible to everyone. The firm plans to continue innovating and using technology and data to provide customers with the best omnichannel experience.

ADIA has increased its shareholding in Purplle to support the company’s vision of building a sustainable and profitable business.

Purplle has granted ESOPs to 320 employees and 85 of them have sold ESOPs worth Rs 75cr over three buyback programs. In a new ESOP liquidity program, 26% of the beneficiaries are women.