MyGlamm, India’s quickest growing direct-to-consumer beauty brand, has declared the creation of the Good Glamm Group. This move fortifies its position as a ‘Digital House of Brands’ powered by a content-to-commerce strategy.
The business has also ranked up its Series C fundraise with a Rs 255 crore immersion led by an equity investment from the Trifecta Leaders Fund and structured backing from Trifecta Capital and Stride Ventures. With this extra funding, the Good Glamm Group has allocated a Rs 750-crore war chest to make strategic investments in innovative beauty and personal care labels.
“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 their 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 stated under the Good Glamm Group umbrella, are fast-growing names that answer key needs in all parts of a woman’s life stage, from a tween to a grown-up.
“As we have added and strengthened these brands, we have grown multifold in the last 18 months,” answered Sanghvi. “In this journey, we have partnered with high-quality long-term investors like Trifecta Capital.”
Brands that come beneath the Good Glamm Group umbrella will be able to leverage an enormous digital audience containing 88 million POPxo annual users, 220,000 Plixxo influencers, and Baby Chakra’s 20 million mothers’ community and 10,000 doctors network. This powerful digital reach, merged with MyGlamm’s 20,000 offline points of sale gives the Good Glamm Group an unparalleled scale. This is further augmented 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 administration team involving industry experts from traditional FMCG companies like Unilever, Godrej, L’Oreal, and new age e-commerce businesses like Myntra and Nykaa. The Good Glamm Group stated it is firmly 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 told it is committed to inclusive beauty and cruelty-free, vegan and environment-friendly pure products. Its content-to-commerce approach is democratizing passage to beauty products and advice. Its products include make-up, skincare, haircare, individual care and soon to be launched baby-care goods. The company stated its products are produced with formulations that are fully suited to solve the beauty and personal care demands of millions of customers.
“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 approach when it acquired POPxo and Plixxo in mid-2020. It established the content-to-commerce model through which it engaged millions of women to actively participate in the process of building beauty products and turning content users into product-buyers. It resumes to strengthen this model and has ventured into the mom and baby section through its recent acquisition of BabyChakra. The formation of the Good Glamm Group is a development together of this ‘Digital House of Brands’ powered by a content-to-commerce model.