| Type | Privately held company |
|---|---|
| Industry | Cosmetics & personal care, media, influencers |
| Founded | September 2021 |
Area served |
Asia, Middle East |
Key people |
Darpan Sanghvi (Group founder & CEO) Priyanka Gill (Co-founder) Naiyya Saggi (Co-founder) |
| Revenue |
 ₹252.7 crore (US$32 million) (FY22) |
|
₹240 crore (US$30 million) (FY22) |
The Good Glamm Group is a content-to-commerce company that produces and sells personal care and cosmetic products, with operations in India, Dubai, Singapore, and the USA. The company was recognized in New York-based Beauty Matter's Future50 list of global beauty companies, and in 2021 achieved unicorn status after a $150 million Series D funding round at a valuation of $1.2 billion. The group announced plans to launch an IPO on 30 August 2022.
History
Darpan Sanghvi, with the backing of L’Occitane (a French beauty conglomerate), established a D2C beauty company called MyGlamm in 2017, which had over 800 SKUs on its D2C website and over 30,000 offline points of sales in over 70 cities. Meanwhile, back in 2013, Priyanka Gill founded POPxo, a digital community platform for millennial women that later launched its e-commerce division selling POPxo beauty products. In 2020, Sanghvi teamed up with Gill and purchased POPxo for an undisclosed sum. MyGlamm then went on to acquire BabyChakra, a content and community platform for young mothers set up in August 2021 by Naiyya Saggi.
In July 2021, MyGlamm secured INR 530 crore in a Series C funding round with Accel and existing investors in July 2021.
In September of the same year, the merger of all three companies, MyGlamm, POPxo, and BabyChakra, resulted in the formation of the Good Glamm Group.
In November 2021, the Good Glamm Group became India's first beauty commerce unicorn after receiving $150 million in a Series D funding round led by Prosus Ventures and Warburg Pincus. Its Investors include L’Occitane, Bessemer Venture Partners, Amazon, Ascent Capital, Warburg Pincus, and others.
By July 2022, the Good Glamm Group had acquired 11 companies and raised $250 million in digital media, influencer marketing, and beauty & personal care brands.
In December 2022, the group acquired a 51% stake in digital media company Tweak India, owned by Indian actor Twinkle Khanna, making it their 12th acquisition. In March 2023, the group partnered with Akshay Kumar to launch a joint venture for personal care and wellness products for men.
Financials
In 2020-21, the group recorded consolidated revenue from operations at over Rs 49 crore along with a net loss of Rs 43.6 crore, while it registered a loss of Rs 272.9 crore in the financial year 2022–23. Its current revenue run rate is $120 million.
Business divisions
The Good Glamm Group has four divisions: Good Brands Co, Good Media Co, Good Creator Co, and Good Community. Good Brands Co includes brands like MyGlamm, The Moms Co, Sirona, St. Botanica, and Organic Harvest. Good Media Co includes digital media companies like POPxo, ScoopWhoop, Tweak, MissMalini, and BabyChakra. Good Creator Co includes influencer companies like Plixxo, Winkl, Vidooly, Bulbul, and MissMalini’s influencer and talent management division and launched the Good Creator Co (GCC) App in March 2023.
Accolades
The Good Glamm Group has won several awards including five at Forbes DTC Awards in 2023, featured in Fortune's Employer of the Future list,LinkedIn's top 10 Startups, and Beauty Matters List of future 50 beauty companies in 2023.Harvard Business School did a case study on the acquisition of BabyChakra and their brands won awards from Vogue and Cosmopolitan.