MyGlamm, India’s quickest rising direct-to-consumer magnificence brand, has introduced the formation of the Good Glamm Group. This transfer consolidates its place as a ‘Digital House of Brands’ powered by a content-to-commerce technique.
The agency has additionally topped up its Series C fundraise with a Rs 255 crore infusion led by an fairness funding from the Trifecta Leaders Fund and structured financing from Trifecta Capital and Stride Ventures. With this extra funding, the Good Glamm Group has earmarked a Rs 750-crore warfare chest to make strategic investments in revolutionary magnificence and private care manufacturers.
“The function of the Good Glamm Group is to remodel the wonder journey of thousands and thousands of girls, by way of nice content material and revolutionary merchandise from the Group’s home of manufacturers,” mentioned Darpan Sanghvi, founder and CEO, Good Glamm Group.
In July, this 12 months MyGlamm raised part of Series C funding spherical at Rs 530 crore from buyers together with Accel. This included a top-up of Rs 355 crore to the present Rs 175 crore it had raised in March of this 12 months from buyers akin to Ascent Capital, Amazon and Wipro Consumer. This additionally marked one of many first investments made by e-commerce agency Amazon in a magnificence brand in India.
Sanghvi mentioned below the Good Glamm Group umbrella, are fast-growing manufacturers that resolve key wants in each a part of a girl’s life stage, from a tween to an grownup.
“As now we have added and strengthened these manufacturers, now we have grown multifold in the final 18 months,” mentioned Sanghvi. “In this journey, now we have partnered with high-quality long run buyers like Trifecta Capital.”
Brands that come below the Good Glamm Group umbrella will have the ability to leverage a big digital viewers comprising 88 million POPxo annual customers, 220,000 Plixxo influencers and Baby Chakra’s 20 million moms’ group and 10,000 docs community. This spectacular digital attain, mixed with MyGlamm’s 20,000 offline factors of sale offers the Good Glamm Group an unprecedented scale. This is additional amplified by the Group’s experience in DTC development, new product improvement and know-how and information science.
“Converting content material customers to patrons has all the time been the holy grail in the direct-to-consumer trade. Darpan (Sanghvi) confirmed large foresight when he merged MyGlamm, a magnificence firm with POPxo and Plixxo, a content material and influencer firm,” mentioned Priyanka Gill, co-founder, Good Glamm Group. “This profitable merger laid the inspiration of the Good Glamm Group. Investors have proven nice confidence in our revolutionary mannequin and we’re excited to construct and scale the Digital FMCG Conglomerate of the Future.”
The firm has a senior management workforce comprising trade veterans from conventional FMCG corporations like Unilever, Godrej and L’Oreal and new age e-commerce corporations like Myntra and Nykaa. The Good Glamm Group mentioned it’s strongly positioned to be the digital FMCG Conglomerate of the long run.
“Good Glamm Group is setting new requirements in D2C not simply in India however globally,” mentioned Naiyya Saggi, co-founder, Good Glamm Group. “It is unprecedented for manufacturers, shoppers and specialists to come back collectively just about at this scale below one umbrella, leverage communities and conversations powered by the product, tech and information, to co-create care and wonder merchandise for the brand new era of Indian ladies.”
The group mentioned it’s dedicated to inclusive magnificence and cruelty-free, vegan and environment-friendly clear merchandise. Its content-to-commerce method is democratising entry to magnificence merchandise and recommendation. Its merchandise embrace make-up, skincare, haircare, private care and shortly to be launched baby-care merchandise. The agency mentioned its merchandise are made with formulations which can be finest suited to resolve the wonder and private care wants of thousands and thousands of shoppers.
“We are massive believers in the corporate’s imaginative and prescient of constructing the digital home of manufacturers, Trifecta Capital. “We have a robust conviction in Darpan (Sanghvi) and his workforce’s capabilities to execute this daring imaginative and prescient.”
MyGlamm leveraged an revolutionary acquisition technique when it acquired POPxo and Plixxo in mid-2020. It pioneered the content-to-commerce mannequin by way of which it engaged thousands and thousands of girls to actively take part in the method of making magnificence merchandise and changing content material customers to product-buyers. It continues to strengthen this mannequin and has ventured into the mother and child section by way of its latest acquisition of BabyChakra. The formation of the Good Glamm Group is a coming collectively of this ‘Digital House of Brands’ powered by a content-to-commerce mannequin.
Business Standard has all the time strived onerous to supply up-to-date data and commentary on developments which can be of curiosity to you and have wider political and financial implications for the nation and the world. Your encouragement and fixed suggestions on the best way to enhance our providing have solely made our resolve and dedication to those beliefs stronger. Even throughout these troublesome occasions arising out of Covid-19, we proceed to stay dedicated to maintaining you knowledgeable and up to date with credible information, authoritative views and incisive commentary on topical problems with relevance.
We, nonetheless, have a request.
As we battle the financial impression of the pandemic, we want your assist much more, in order that we are able to proceed to give you extra high quality content material. Our subscription mannequin has seen an encouraging response from lots of you, who’ve subscribed to our on-line content material. More subscription to our on-line content material can solely assist us obtain the targets of providing you even higher and extra related content material. We imagine in free, honest and credible journalism. Your assist by way of extra subscriptions may also help us practise the journalism to which we’re dedicated.
Support high quality journalism and subscribe to Business Standard.