Plum has announced the onboarding of actor Rashmika Mandanna as an investor, brand ambassador, and advocate for the beauty and personal care brand.
This partnership between the ‘Pushpa: The Rise’ famed actor and the beauty and personal care brands is expected to further cement Plum’s position as a fan favourite and create new pathways for customer acquisition, especially with the Gen Z and millennial audiences in India.
As per the brand, at a current ARR of Rs 300 crore on a net revenue basis, Plum’s goal is to double that number over the next 12 months. The brand is planning to expand its online presence and offline footprint across India and further scale its production, launch innovative new products and employ great talent under its leadership team.
Rashmika Mandanna said, “Plum has been one of my favorite brands - it does what it says. I am excited to represent and also come on board as an investor, supporting a brand that is passionate about adding real goodness to the world we live in. Plum has witnessed stupendous growth over the last few years and I am confident that the brand will become the ‘go-to' vegan brand in time to come. Plum creates no-nonsense products which our skincare really needs right now - with our fast-paced lives and exposure to sun and pollution. I’ve been using Plum's products myself and I absolutely love them. I am really excited to bring some skincare love and goodness to everyone’s homes!”
Shankar Prasad, CEO and Founder at Plum, said, “We are delighted to have Rashmika on board as we look forward to reinforcing our brand connect with consumers. She is a popular youth icon and fits very well with the brand ethos of Plum, with her real, approachable persona. This partnership is an important milestone as we continue to build Plum into a lovable brand that stands for keeping things clean, real and good.”
Rashmika’s investment follows a $35 million funding round led by A91 Partners in March 2022. To date, Plum has raised over $50 million from consumer-focused institutional investors, which portends its future growth as the category leader in the new-age, D2C beauty space.