In this insightful video, Ashish Fafadia, Partner at Blume Ventures, discusses the challenges and opportunities encountered during Purplle's journey as a vertical commerce business in the beauty industry. Blume Ventures is an investor in Purplle, and Ashish shares his perspective on the company's early stages and the debates surrounding investing in vertical commerce, particularly in the beauty sector.
Ashish delves into the common questions faced by Purplle during the first five to six years of their journey, including pitches to potential investors for Series A and B funding. He highlights the fundamental question of determining the right to win for a vertical commerce business in the beauty industry.
The video explores the untapped potential of the aspiring mid-market in Tier 2 and Tier 3 cities in India, where customers previously lacked access to certain beauty products. Ashish explains how Purplle's thoughtful approach to offering products to these customers, even with an average product to start with, allowed them to build a valuable enterprise.
Ashish draws parallels between Purplle's strategy and those of other successful consumer companies, local brands, and microfinance institutions (MFIs) that have operated in these areas, solving critical customer needs and providing access to previously unavailable products.
Gain valuable insights into Purplle's journey, the challenges faced by vertical commerce businesses in the beauty industry, and the immense potential of catering to underserved markets in India.
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8 сен 2024
