The Good Glamm Group’s FY22 Loss Surges 6.2X To INR 273 Cr, Sales Jump To INR 240 Cr

Content-to-commerce unicorn The Good Glamm Group’s consolidated net loss widened over 6X to INR 273 Cr in FY22 from INR 44 Cr in the previous fiscal year.

The Good Glamm Group’s consolidated financials also include the financial statements of its acquired businesses such as Sirona Hygiene, St Botanica, Organic Harvest, Baby Chakra, and The Moms Co. 

The startup’s revenue from operations increased 387% to INR 240 Cr in FY22 from INR 49.3 Cr in FY21. The group company, which offers an ecommerce platform and an online content platform through its multiple subsidiaries, earned a majority of its revenue through sale of products. 

Total revenue, including other income, rose to INR 252.7 Cr in FY22, a 404% jump from INR 50.1 Cr in FY21. 

Meanwhile, total expenses ballooned 5.6X to INR 518.9 Cr from INR 91.2 Cr in FY21. Employee benefit expenses jumped 318% to INR 145.9 Cr from INR 34.8 Cr in FY21, and accounted for 28% of the total expenses in FY22.

The startup spent INR 159.5 Cr for purchase of stock-in-trade for its D2C brands – MyGlamm, The Moms Co., Sirona and Organic Harvest – as against INR 18.6 Cr in FY21. 

Miscellaneous expenses jumped a whopping 584% to INR 217.9 Cr in FY22 from INR 31.8 Cr in the previous year. While the startup didn’t give a breakup of miscellaneous expenses, it is likely that it included advertising and promotional expenses, among others. 

The startup’s EBITDA margin deteriorated to -106.75% in FY22 from -80.3% in FY21.

Darpan Sanghvi founded D2C brand MyGlamm in 2017, Priyanka Gill founded digital media platform POPxo in 2013, and Naiyya Saggi founded online parenting startup BabyChakra in 2015. The three brands came together and rebranded as the Good Glamm Group in September 2021. In October 2021, the group added D2C brand The Moms Co. to its portfolio. 

It entered the unicorn club by raising $150 Mn in its Series D round in November 2021. The funding round was co-led by Prosus Ventures, Warburg Pincus, along with participation from Alteria Capital and existing investor L’Occitane, Bessemer Ventures, Amazon, among others. 

Currently, The Good Glam Group has three verticals – The Good Brands Co, which has a portfolio of D2C beauty and personal care brands, digital content platform The Good Media Co; and tech-enabled influencer platform The Good Creator Co. 

The group has been on an acquisition spree over the last year or so, during which it has acquired seven startups.