Beauty brand MyGlamm unveils Good Glamm Group, raises Rs 255 cr in Series C

With a Rs 750-crore war chest, the Good Glamm Group will also make strategic investments in innovative beauty and personal care brands

MyGlamm, India’s fastest growing direct-to-consumer beauty brand, has announced the formation of the Good Glamm Group. This move consolidates its position as a ‘Digital House of Brands’ powered by a content-to-commerce strategy.

The firm has also topped up its Series C fundraise with a Rs 255 crore infusion led by an equity investment from the Trifecta Leaders Fund and structured financing from Trifecta Capital and Stride Ventures. With this additional funding, the Good Glamm Group has earmarked a Rs 750-crore war chest to make strategic investments in innovative beauty and personal care brands.

“The purpose of the Good Glamm Group is to transform the beauty journey of millions of women, through great content and innovative products from the Group’s house of brands,” said Darpan Sanghvi, founder and CEO, Good Glamm Group.

In July, this year MyGlamm raised a part of Series C funding round at Rs 530 crore from investors including Accel. This included a top-up of Rs 355 crore to the existing Rs 175 crore it had raised in March of this year from investors such as Ascent Capital, Amazon and Wipro Consumer. This also marked one of the first investments made by e-commerce firm Amazon in a beauty brand in India.

Sanghvi said under the Good Glamm Group umbrella, are fast-growing brands that solve key needs in every part of a woman’s life stage, from a tween to an adult.

“As we have added and strengthened these brands, we have grown multifold in the last 18 months,” said Sanghvi. “In this journey, we have partnered with high-quality long term investors like Trifecta Capital.”

Brands that come under the Good Glamm Group umbrella will be able to leverage a large digital audience comprising 88 million POPxo annual users, 220,000 Plixxo influencers and Baby Chakra’s 20 million mothers’ community and  10,000 doctors network. This impressive digital reach, combined with MyGlamm’s 20,000 offline points of sale gives the Good Glamm Group an unprecedented scale. This is further amplified by the Group’s expertise in DTC growth, new product development and technology and data science.

“Converting content users to buyers has always been the holy grail in the direct-to-consumer industry. Darpan (Sanghvi) showed massive foresight when he merged MyGlamm, a beauty company with POPxo and Plixxo, a content and influencer company,” said Priyanka Gill, co-founder, Good Glamm Group. “This successful merger laid the foundation of the Good Glamm Group. Investors have shown great confidence in our innovative model and we are excited to build and scale the Digital FMCG Conglomerate of the Future.”

The company has a senior leadership team comprising industry veterans from traditional FMCG companies like Unilever, Godrej and L’Oreal and new age e-commerce firms like Myntra and Nykaa. The Good Glamm Group said it is strongly positioned to be the digital FMCG Conglomerate of the future.

“Good Glamm Group is setting new standards in D2C not just in India but globally,” said Naiyya Saggi, co-founder, Good Glamm Group. “It is unprecedented for brands, consumers and experts to come together virtually at this scale under one umbrella, leverage communities and conversations powered by the product, tech and data, to co-create care and beauty products for the new generation of Indian women.”

The group said it is committed to inclusive beauty and cruelty-free, vegan and environment-friendly clean products. Its content-to-commerce approach is democratising access to beauty products and advice. Its products include make-up, skincare, haircare, personal care and soon to be launched baby-care products. The firm said its products are made with formulations that are best suited to solve the beauty and personal care needs of millions of consumers.

“We are big believers in the company’s vision of building the digital house of brands, Trifecta Capital. “We have a strong conviction in Darpan (Sanghvi) and his team’s capabilities to execute this bold vision.”

MyGlamm leveraged an innovative acquisition strategy when it acquired POPxo and Plixxo in mid-2020. It pioneered the content-to-commerce model through which it engaged millions of women to actively participate in the process of creating beauty products and converting content users to product-buyers. It continues to strengthen this model and has ventured into the mom and baby segment through its recent acquisition of BabyChakra. The formation of the Good Glamm Group is a coming together of this ‘Digital House of Brands’ powered by a content-to-commerce model.