The Good Glamm Group comprises a portfolio of innovative and fast-growing direct-to-consumer (DTC) beauty and personal care brands, powered by its proprietary digital ecosystem of content and creator assets. With a vision to become the "global, digital-first, fast-moving consumer goods (FMCG) conglomerate of the future," the Good Glamm Group brings together leading brands across color cosmetics, haircare, mom and baby, intimate hygiene, and organic personal care.
The business reaches over 200 million users across our content assets and more than 1.5 million creators, giving us a large user base to engage with. The personalization we are able to facilitate through our tech, product, and community stack ensures a high-retaining customer journey. This strategy has led to us being the only company in India with the lowest cost of customer acquisition (0.5 USD as CAC per transacting customer).
The brand connects directly with 800,000 customers monthly, creating products through customer surveys that help us understand customer requirements at scale.
Brand Founder: Darpan Sanghvi
Founded: MyGlamm 2015 | Formation of The Good Glamm Group 2021
Leadership:
2023 Full Year Expected Revenue Range: $250MM to $300MM
Categories: Color Cosmetics, Skincare, Haircare
Distribution Channels: DTC, Mass, Amazon
Funding Rounds: Venture Capital
Total Funds Raised: $270MM
In July 2019, MyGlamm raised a Rs 100 crore ($14.47 million) round that valued the business at $72.35 million (Rs 500 crore). The round was led by Bessemer Venture Partners and the Mankekar family office, with participation from existing investor L’Occitane.
In November 2020, MyGlamm acquired POPxo, a women-centric digital platform, to expand into the online content space.
In August 2021, MyGlamm closed a $71 million Series C funding round with a top-up of $47.5 million to the existing $23.5 million it had closed in March of that year.
In November 2021, The Good Glamm Group raised $150 million Series D financing round at a $1.2 billion valuation led by Prosus Ventures and Warburg Pincus with participation by L'Occitane, Bessemer Venture Partners, Amazon, Ascent Capital, and the Mankekar Family Office, as well as $15 million of venture debt from Alteria Capital.
M&A and Investment Activity:
In August 2021, MyGlamm expanded into baby care with the acquisition of BabyChakra, India's top parenting platform.
In November 2021 The Good Glamm Group acquired Indian digital and media platform ScoopWhoop.
In December 2021, Good Glamm Group acquired MissMalini Entertainment in a stock-cash mix transaction and invested $13.5 million in Sirona Hygiene.
In January 2022, The Good Glamm Group acquired a majority stake in Organic Harvest in an all-cash deal and acquired influencer marketing platform Winkl and content and creator analytics start-up Vidooly.
The Good Glamm Group spun off Plixxo, MissMalini, Winkl, and Vidooly to launch The Good Creator Co. with a $26.8 million seed investment in January 2022.
In March 2022, The Good Glamm Group’s portfolio company BabyChakra made its first acquisition, buying regional Indian parenting network Tinystep.
In December 2022, The Good Glamm Group took a 51% stake in digital media company Tweak India in a cash and stock deal
In March 2023, The Good Glamm Group increased its stake in direct-to-consumer (DTC) mother and baby care products brand The Moms Co from 75% to 90%.
Notable Investors: Warburg Pincus, Prosus Ventures, L’Occitane, Bessemer Venture Partners, Accel, Amazon, Stride Ventures, Trifecta Capital, Ascent Capital, Alteria Capital, Tano Capital LLC, and the Mankekar Family Office.
Notable Advisors/Board Members: Andre J Hoffmann, CEO, L’Occitane; and Vishal Mahadevia, Managing Partner, Warburg Pincus
Please share the inspiration for your brand and how it meets a need in the beauty industry. What are some of your key business initiatives for 2023?
What are you most proud of having accomplished?
Within the last two years, the group has made 12 acquisitions across DTC brands, content, and creator companies. In November 2021, The Good Glamm Group entered the unicorn club with a valuation of $1.2 billion. The acquired brands have grown by more than 300x since acquisition with successful integrations kicking in with the group’s DTC and content, creator, tech product, and offline capabilities.
In 2022, The Group also introduced its international division starting with the Gulf Cooperation Council (GCC)/Middle East, followed by Southeast Asia. The international expansion has already kicked off with three of the six brands already available in Carrefour, Lulu, and Baby Shop across the GCC.
Lastly, in a short span of one year of announcing the formation of The Good Glamm Group, the company was featured in LinkedIn’s Top 25 start-ups as one of the best workplaces to grow your career in India. The Group was also the biggest winner at the Forbes DTC Awards ’22 with five of its brands winning top honors.
What has been the biggest surprise since the brand was founded?
We formed the Good Glamm Group with “Content to Commerce” as our unique moat. The biggest surprise for us was not only acquiring brands that are aligned with our vision, but also witnessing the hockey stick growth of content to commerce. Our acquired brands have grown between 200% and 300% in a short span of four months and six months respectively.
What aspect of your brand DNA fuels your competitive advantage?
One of the biggest challenges faced by beauty and personal care insurgents is building trust, consideration, and inspiration for their products and, hence, acquiring customers at scale with limited marketing budgets. The Good Glamm Group’s unique 3C approach (content, creator, and commerce) has helped significantly reduce customer acquisition cost (CAC) to having the lowest CAC in the country. This approach has resulted in successfully witnessing the conversion of content users further inspired by communities of creators, experts, and peers to becoming buying users. The Group's content arm—The Good Media Co—and creator arm—The Good Creator Co.—has helped turbocharge the DTC capabilities and drive revenue for the commerce arm—The Good Brands Co.
Please share your insight on the future of the beauty industry.
New business opportunities for DTC brands have emerged as a result of technological advancements. In spite of the fact that no industry has escaped the impact of cutting-edge technologies over the past two decades, e-commerce has benefited the most. Rapid technological innovation adoption has made it possible for players in the e-commerce industry to provide consumers with value on a scale that was previously unthinkable. Since the pandemic, there has been an increased push for the adoption of new technologies, which has benefited DTC businesses as well as consumers. The true benefits of technological advancements go beyond simply bringing buyers and sellers together. They are bringing about radical changes in the production, distribution, and consumption of goods, using data-driven insights. Furthermore, greater personalization, connectivity, and authenticity at scale are changing how consumers relate to, try, and buy products. Additionally, sustainability and inclusivity are quickly becoming priorities for both beauty and wellness companies.
What is the best piece of advice you’ve been given?
Agility is critical in entrepreneurship and the beauty and personal care (BPC) industry especially when building a portfolio of insurgent brands at scale. It is critical to ensure we are up to date with key strategies within the business and shifts in the industry. Staying in the game also means being adaptable and willing to pivot if necessary, in order to stay competitive and meet the changing needs of the market.
It is essential to always stay financially stable and ensure that you never run out of money while being available to the customer wherever he or she is. This means being mindful of spending, keeping a close eye on cash flow and inventory management, and being proactive in seeking out funding or investment if needed. It also means embracing different channels offline and online to grow while keeping marketing innovative and cost effective to ensure the sustainability of your business.
Paying it forward, what advice would you give to someone contemplating launching a beauty brand?
To succeed in the beauty industry, it is extremely critical to stay close to your consumers and ensure innovation and consumer centricity remain core to your DNA. Listening and having conversations with customers at scale is possible today with the power of digital, but to truly harness digital at scale, it is critical to recognize the role that technology and personalization can play and to invest in them. We have a 100-member-plus tech, product, and data sciences team as well as a 10-member community team that ensures personalized experiences and interactions with our customers and users to deeply understand their needs at scale and also preempt rapid innovation cycles in partnership with our new product development (NPD) team.
If you could change one thing in the beauty industry, what would it be?
We would definitely want clean beauty [to be] the norm and skin caring ingredients in products to be table stakes today. Responsible beauty is something that the industry as a whole should adopt.
