The beauty and personal care brand derives around 30 per cent of its business from offline channels, with distribution spanning 30,000–40,000 outlets, while exclusive stores remain a smaller part of its expansion strategy
Plum is looking to open an exclusive store in Kerala by early November but will keep further physical retail expansion dependent on location and store-level economics. The beauty and personal care brand currently operates around 11 exclusive stores, with online channels and general trade continuing to drive its growth strategy, with an ambition to reach Rs 1,000 crore in revenue.
“Depending on how the location turns out and whether the economics work out for us, we’ll go ahead,” Shankar Prasad, Founder and CEO, Plum said during an interaction with BW Businessworld at the sidelines of Nykaaland.
Plum currently operates around 11 exclusive stores and expects to open another in Kerala by early November, the executive said. However, the company is not positioning exclusive outlets as a primary driver of its expansion.
Future store additions will depend on the performance of individual locations and their commercial viability, according to the executive. This approach places greater emphasis on the economics of physical retail rather than setting an aggressive store-count target.
Plum’s festive-season sales, which began in October, have gone well, Shanker said. The company prepared for the period through new product launches, marketing communication, inventory planning and ensuring the right stock-keeping units were available across sales channels. He added that the brand had not observed any unusual consumer behaviour compared with the previous festive season.
Offline channels contribute around 30 per cent of Plum’s business, with its products available across 30,000–40,000 outlets. The company also has around 1,000 assisted outlets, alongside its presence in modern trade and exports.
“The major part of our strategy is online and then general trade,” he said, adding that the company’s growth ambition was not dependent solely on physical retail.
In an earlier interaction with BW Businessworld about a month ago, Plum founder said marketplaces, including quick commerce and other ecommerce channels, accounted for more than two-thirds of the company’s revenue. Physical retail was its second-largest channel, followed by its direct-to-consumer platform.
Plum had crossed Rs 500 crore in revenue in the previous year and was targeting annual growth of 40–50 per cent while maintaining or improving profit margins. The company has identified Rs 1,000 crore in revenue as its next milestone, although no timeline was specified.
At Nykaaland, Plum is also showcasing its jelly serum, launched around two to three months ago. Shanker said the product, designed for nighttime use to address dark spots, had received a positive response. The brand is using the event to introduce its products to consumers who may be more familiar with it through online channels.
The brand is present in markets including Dubai, Nepal, parts of the Caribbean, Africa and the United States. The executive said these markets had been performing well, although international business currently accounts for only around 5–6 per cent of the company’s overall business.
The company expects the international contribution to increase as it scales its presence in overseas markets.
