• About
  • Contact
Tuesday, May 17, 2022
  • Login
Next Big Brand
  • .
  • News
  • Marketing
  • Tech
  • Insight
  • Interviews
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • CRYPTOCURRENCY
  • Retail
No Result
View All Result
Next Big Brand

Beauty Brand MyGlamm uncovers Good Glamm Group, raises Rs 255 cr in Series C

Of the freshest tranche of Rs 255 crore, Rs 100 crore in equity investment has arrived from Trifecta Capital’s anew raised late-stage equity capital, co-founder Darpan Sanghvi informed media. The balance is debt — Rs 75 crore from Trifecta Capital’s debt fund and Rs 80 crore of Stride Ventures.

Anshumaan Vishnu by Anshumaan Vishnu
October 7, 2021
in News
Reading Time: 3 mins read
A A
0
Myglamm Group

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.”

Myglamm Products

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.

The Good Glamm Group Founders
Darpan Sanghvi (MyGlamm), Priyanka Gill (POPxo) and Naiyya Saggi (BabyChakra) The Good Glamm Group

“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.

Tags: fundingGood Glamm GroupMyglammPlixxoPopxo
Previous Post

TikTok Says it has Passed 1 Billion Users

Next Post

Indore Based ShopKirana Transforming the Kirana World

Anshumaan Vishnu

Anshumaan Vishnu

An entrepreneur and writer who prefers to create content around startups, entrepreneurship and digital marketing. To talk more like this idea, connect on LinkedIn.

Related Posts

Smytten Founders
News

D2C Sampling Startup Smytten Raises Rs 100 Crore in Pre-Series B Led By Fireside Ventures

May 17, 2022
paytm mall
News

Jack Ma Exits Paytm Mall, Sells 43% For Rs 42 Crore Valuation Down To Rs 100 Crore

May 17, 2022
Zerodha Team
News

After Meesho, Nearly 950 of Zerodha’s 1100 Employees Will Work From Home Permanently

May 16, 2022
Elon Musk Twitter
News

Elon Musk Puts On Hold $44 Billion Twitter Acquisition Deal

May 13, 2022
Dineout Founders
Food

Swiggy Acquires Times Internet Backed Dineout For $200 Million

May 13, 2022
Ather Founder
News

Ather Energy Raises $128 Million Investment Led By Hero MotoCorp, India’s Sovereign Wealth Fund

May 12, 2022
Next Post
ShopKirana is now Direct App

Indore Based ShopKirana Transforming the Kirana World

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

BROWSE BY TOPICS

Acquiring amazon Apple brand story BYJU Ravindran Byjus byjus news byjus the learning app Cryptocurrency Edtech Startups Elon Musk facebook fintech news Flipkart funding Good Glamm Group google Indian OTT Platforms Indian Unicorn Indian Unicorns Indian Unicorns of 2021 Mukesh Ambani Netflix NFT NFT Collection Non Fungible Tokens OYO Paytm Reliance Retail Startup Acquisition Startup IPO startup news india Startups startups in india Swiggy Tiktok TikTok India Twitter Unicorns of 2022 Unicorns of India Unicorn Startups Upgrad YouTube Zomato Zomato App

Instagram

Follow Me!

Recent News

  • D2C Sampling Startup Smytten Raises Rs 100 Crore in Pre-Series B Led By Fireside Ventures
  • Jack Ma Exits Paytm Mall, Sells 43% For Rs 42 Crore Valuation Down To Rs 100 Crore
  • After Meesho, Nearly 950 of Zerodha’s 1100 Employees Will Work From Home Permanently

Latest News

Smytten Founders

D2C Sampling Startup Smytten Raises Rs 100 Crore in Pre-Series B Led By Fireside Ventures

May 17, 2022
paytm mall

Jack Ma Exits Paytm Mall, Sells 43% For Rs 42 Crore Valuation Down To Rs 100 Crore

May 17, 2022
  • About Us
  • Privacy Policy
  • Terms and Conditions
  • Disclaimer
  • DMCA Policy
  • Our Team
  • Contact Us
  • Sitemap

© 2019 NBB. All Rights Reserved.

No Result
View All Result
  • .
  • News
  • Marketing
  • Tech
  • Insight
  • Interviews
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • CRYPTOCURRENCY
  • Retail

© 2019 NBB. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.