SUMMARY
The D2C startup aims to consolidate its position as a ‘Digital House of Brands’ powered by a content-to-commerce strategy
It has also topped up its Series C fundraise with a INR 255 Cr infusion
With the additional funding, Good Glamm Group has earmarked an INR 750 Cr capital to make strategic investments in innovative beauty and personal care brands
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D2C beauty and personal care startup MyGlamm has launched the Good Glamm Group in a bid to consolidate its position as a ‘Digital House of Brands’ powered by a content-to-commerce strategy.
The D2C startup has also topped up its Series C fundraise with an INR 255 Cr infusion led by an equity investment from the Trifecta Leaders Fund and structured financing from Trifecta Capital and Stride Ventures.
In July this year, it had closed a Series C funding round at INR 530 Cr ($71 Mn), with investments from Accel and existing investors.
With this additional funding, the Good Glamm Group has earmarked an INR 750 Cr war-chest to make strategic investments in innovative beauty and personal care brands said a company statement.
The group is backed by Accel, Amazon, Bessemer Venture Partners, Ascent Capital, Accel, Shraddha Kapoor, Trifecta Capital, Stride Ventures, Tano Capital LLC, The Mankekar family, L’Occitane, and Wipro Consumer.
In August, MyGlamm acquired Mumbai-based parenting platform BabyChakra in a bid to grow to be the largest 3C (Content + Community + Commerce) company in South Asia. In 2020, it had acquired Delhi-based women-centric digital media and ecommerce platform POPxo in 2020.
Brands that come under the Good Glamm Group will be able to leverage the digital audience of 88 Mn POPxo annual users, 220,000 Plixxo influencers and Baby Chakra’s 20 Mn mothers’ community and 10,000 doctors network.
This digital reach, combined with MyGlamm’s 20,000 offline points of sale would give Good Glamm Group a significant consumer base.
“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. Under The Good Glamm Group umbrella are fast-growing brands that solve key needs in every part of a woman’s life stage, from a tween to an adult. As we have added and strengthened these brands, we have grown multifold in the last 18 months,” said Darpan Sanghvi, Founder & CEO, Good Glamm Group.
The leadership team of the newly formed umbrella group comprises industry veterans from Unilever, Godrej and L’Oreal and new age e-commerce giants like Myntra and Nykaa and led by Group Founder & CEO Darpan Sanghvi along with co-founders Priyanka Gill and Naiyya Saggi.
Good Glamm Group which already has make-up, skincare, haircare and personal care products under its portfolio will soon launch baby-care products.
Founded in 2017 by Darpan Sanghvi, MyGlamm claims to offer 800+ cruelty-free and vegan beauty products in cosmetics, skincare, and personal care categories. Besides its native ecommerce platform, MyGlamm also sells its products via 10,000 offline points of sales across 70 cities in India.
MyGlamm competes with Mamaearth, Nykaa, WOW Skin, Plum, and SUGAR Cosmetics in the D2C beauty and personal care segment.
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