Shankar Prasad: Pioneering Clean Beauty in India with Plum

In 2013, when Shankar Prasad embarked on his journey to change the beauty industry in India, the concept of vegan, cruelty-free, and toxin-free beauty products was virtually unknown in the country. His brainchild, Plum, set out to challenge the norms and introduce a clean beauty brand that would resonate with the conscious consumer. Today, Plum stands as a trailblazer, revolutionizing the Indian beauty market. Shankar Prasad’s path to entrepreneurship was an inspiring transformation. With a background in chemical engineering from the prestigious Indian Institute of Technology-Bombay and an MBA from the Indian School of Business (Hyderabad), Prasad amassed a wealth of experience through roles at leading companies such as Hindustan Unilever Ltd (HUL), McKinsey, and Everstone Capital. His stint at Everstone Capital, where he played a pivotal role in establishing Faces, a Canadian cosmetics company in India, laid the foundation for his entrepreneurial aspirations.

In 2014, Plum was born, heralding a new era in the Indian beauty industry. Prasad, deeply inspired by the growing vegan movement in Europe, introduced a brand that embraced European values. Plum’s philosophy cantered on being 100 percent vegan, cruelty-free, and free from harmful toxins. Its debut collection featured approximately 15 products crafted from sustainable, plant-based, organic ingredients. The journey began with a single online sale, marking Plum’s birthday, a tradition they celebrate each year with significant sales events. Fast forward to 2022, Plum, the direct-to-consumer (D2C) brand, garners over half a million customers every month. It boasts a diverse portfolio of vegan, cruelty-free, and toxin-free beauty products spanning skincare, haircare, personal care, and makeup. The brand successfully sells on its platform and popular marketplaces like Nykaa, Amazon, Flipkart, and Purplle. With a strong offline presence in 250 towns and cities, Plum has almost 1,000 assisted outlets and over 10,000 unassisted outlets. Sixty percent of sales come from online marketplaces and Plum’s website, while 40 percent is attributed to offline points of sale.

Plum has continued to expand its offerings with the introduction of Phy, a men’s grooming brand, and Plum BodyLovin’, a range of bath and body products. The company’s commitment to clean beauty has propelled its growth, attracting a large customer base.

In a recent funding round led by A91 Partners, Plum secured ₹270 crore, valuing the brand at around ₹1,900 crore. The journey from profitability in FY16 to raising significant capital highlighted Plum’s remarkable success. With net revenues reaching ₹91 crore in FY21 and an estimated ₹175 crore in FY22, Plum continues to experience robust growth. Shankar Prasad and his team have remained dedicated to their purpose-driven mission of building India’s best clean beauty brand. With a growing global trend towards clean beauty, Plum stands at the forefront of this transformation. As consumers increasingly seek products made from natural ingredients, Plum is well-poised to lead the change in India’s beauty landscape.

Shankar Prasad’s entrepreneurial journey with Plum has not been without its challenges. The COVID-19 pandemic’s first wave delivered a significant blow, impacting the brand’s operations. However, with determination and the unwavering support of his team and beauty advisors who worked on the frontline, Plum managed to rebound and overcome the crisis. As clean beauty gains momentum globally, Shankar Prasad acknowledges that the Indian market still has room for growth. He emphasizes the need for brands to better educate consumers on the benefits of using vegan and eco-friendly products. The competition is fierce, but Prasad’s focus on staying relevant and offering high-quality products has been Plum’s key to success. With an expanding product range and plans for the future, Plum continues to thrive and make a positive impact on its journey.