Content to commerce unicorn The Good Glamm Group (GGG) on March 30 announced that it has entered into a joint venture (JV) with Bollywood actor Akshay Kumar to launch a range of holistic personal care and wellness products for men. Kumar has made a significant investment in the upcoming brand and will be closely involved in both product and brand development.
These products are expected to be out in the next six months. The men’s grooming category will have products priced between Rs 150 and Rs 350 and is expected to have a revenue run rate of Rs 100 crore in the next year, Darpan Sanghvi, Group Founder and CEO, The Good Glamm Group, told Moneycontrol.
He, however, added that planned products and the target audience details will be kept confidential until the launch happens.
Responding to Moneycontrol’s emailed queries, Kumar said, “I will be deeply involved in the product development and brand development. I have always believed in holistic wellness and fitness all my life and that is the experience I want to bring to people - be it the ingredients, the regimens and the philosophies - to create this product line.”
He added, “The brand we are building together is very close to my heart and truly will epitomize what I believe in and what I stand for.”
While Kumar and GGG have already made significant investments into the JV and proportionate to their respective shareholding, Sanghvi added that “Both Akshay and Good Glamm will continue to invest in the JV as per the requirements of the JV. We are targeting a revenue run rate of Rs. 100 crore in the next 1 year and Rs 500 crore in 3 years and investments will be made accordingly.”
“We expect to launch the products within the next six months. While the Brand, the exact Product line and target audience details are confidential for now, the products have been created while working closely with Akshay. The products are based on Akshay’s philosophies, regimes and ingredients that have worked for him over the last 30 years,” Sanghvi said.
Kumar has been following a disciplined personal care and wellness regime for the last forty-five years spanning yoga, martial arts, fitness, a healthy diet and more. Through this product range, he wants to bring his tried and tested regime to the customers.
The GGG had also recently acquired 51 percent stake in Kumar’s wife and actress Twinkle Khanna’s content business Tweak India.
The JV will be leveraging GGG’s massive online reach of 200 million monthly active users of Good Media Co and over 1 million influencers of Good Creator Co; in addition to the R&D strengths and offline distribution network of Good Brands Co across over 150 cities in India.
The Prosus Ventures and Warburg Pincus-backed startup claims to have an organic reach of 45 percent of men on Facebook and Instagram through its acquired content business ScoopWhoop.
Since 2021, the Good Glamm Group had acquired around 12 brands across the beauty and personal care categories and content brands. While it creates a structure within the parent company of its house of brands model to include the founders of the acquired brands, some of the founders especially on the product brands are expected to exit over the next three years of acquisition.
On March 24, Moneycontrol reported exclusively that two such brands— Organic Harvest and Sirona -- will see their founders exit by the end of next year as the GGG plans to increase its stake in these brands and buy out 100 percent. Organic Harvest is known for its organic skin and hair care products, while Sirona is a female tech brand known for its popular menstrual cups and facial razors among other products.
Founders of another acquired brand The Moms Co. have already stopped being a part of day-to-day operations and hold only a 10 percent stake in their brand, as they plan to sell it off in the next one year.
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