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Good Glamm Group turns unicorn with $150 million funding

Good Glamm Group will utilise this funding to invest in product development, support data science and technology research, increase offline expansion, among other things.

November 09, 2021 / 09:35 PM IST



Content-to-commerce conglomerate the Good Glamm Group has raised $150 million in its Series D round of funding from Prosus Ventures, Warburg Pincus and Alteria Capital.


The round also saw participation from its existing investors L’Occitane, Bessemer Venture Partners, Amazon, Ascent Capital and the Mankekar Family Office.



With this round, Good Glamm Group enters into the much coveted unicorn club to become the 35th unicorn of the year.


The group will utilise this funding for product development, technology research and offline expansion. It will also continue to make investments in more beauty and personal care brands.



Good Glamm graphic_Nov 9


"This funding will ensure that across all the acquisitions we make, we are able to invest correctly," Darpan Sanghvi, Group Founder and CEO, Good Glamm Group, told Moneycontrol in an interaction.


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.

Also read: Want to list in 2023 at $10 billion valuation: Good Glamm's Darpan Sanghvi

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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.

Priyanka Sahay
first published: Nov 9, 2021 08:01 pm

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