Actor Rashmika Mandanna invests within the magnificence model Plum

Vegan magnificence and private care model Plum stated on Thursday that actor Rashmika Mandanna has come aboard as an investor and model ambassador. This comes at a time when the model goals to double its annual recurring income (ARR) over the following 12 months.

The model has acknowledged that this partnership with the Pushpa: The rise Well-known actor will allow him to create new paths for buyer acquisition, notably with Gen Z and millennial audiences. He didn’t disclose the quantum of the funding.

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

Develop your on-line presence

“With a present ARR of round ₹ 300 crore primarily based on web income, Plum’s purpose is to double that quantity over the following 12 months. We plan to broaden our on-line presence and offline presence throughout India and additional enhance manufacturing, launch modern new merchandise and make use of nice expertise, “he added.

The model is bought in main e-commerce markets akin to Amazon, Flipkart, Nykaa, and Purplle. It is usually out there in over 250 international locations and cities in India, by means of almost 1,000 serviced stores and over 10,000 unattended retailers.

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

Revealed on

June 23, 2022

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