According to Sanghvi, this funding is more like a war chest for the group.
In September, the direct-to-consumer brand MyGlamm set up The Good Glamm Group, consolidating all its businesses — MyGlamm, POPxo and BabyChakra — under one umbrella and aspiring to buy more beauty brands with a budget of Rs 2,000 crore.
The group, which has already made two acquisitions, plans to do four more before the year ends. These are likely to include some mens' personal care brands. In October, it announced the acquisition of Moms Co.
The Good Glamm Group comprises a portfolio of proprietary beauty and personal care brands that have a digital ecosystem of content, community and creator assets.
Beauty and personal care brands owned by the Good Glamm Group include MyGlamm, MomsCo, POPxo and Baby Chakra. These brands leverage the group’s proprietary digital assets, which comprise millions of users.
It also has over 30,000 retail points of sale of the group’s flagship beauty brand, MyGlamm.
According to Co-Founder Naiyya Saggi, the group plans to take this number to 100,000 shortly.
The Good Glamm Group claims to have 150 million users, 220,000 content creators and a doctor network of 10,000. It also claims to be adding 3.5 lakh new e-commerce customers every month, with the total transaction shooting up to 3.2 million on a monthly basis.
"With a strong portfolio of D2C brands and proprietary content assets, the group is well positioned to scale rapidly and create a large digital-first business in the beauty and personal care space,” said Vishal Mahadevia, Managing Director and India Head at Warburg Pincus.
"The Good Glamm team has paired desirable, homegrown brands with compelling content, building an incredibly engaged community and positioning them well for future growth in India and beyond," said Ashutosh Sharma, Head of Investments, India, Prosus Ventures.