H2-MyGlamm, India’s most active, thriving direct-to-consumer beauty brand, has declared the formation of the Good Glamm Group. This progress strengthens its state as a ‘Digital House of Brands’ powered by a content-to-commerce strategy.
The firm has also excelled up its Series C fundraise with a Rs 255 crore immersion driven by an equity investment from the Trifecta Leaders Fund and structured financing from Trifecta Capital and Stride Ventures. The Good Glamm Group has allocated a Rs 750-crore war chest to make diplomatic investments in innovative beauty and personal care brands with this added funding.
“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,” said Darpan Sanghvi, founder and CEO, Good Glamm Group.
In July, MyGlamm procured a part of the Series C funding round at Rs 530 crore from investors, along with Accel. This incorporated a top-up of Rs 355 crore to the existing Rs 175 crore it had inflated in March of this year from investors such as Ascent Capital, Amazon and Wipro Consumer. This also evaluated one of the first investments made by e-commerce firm Amazon in a beauty brand in India.
Sanghvi stated that under the Good Glamm Group umbrella, fast-growing brands solve demanding 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 Sanghvi. “In this journey, we have partnered with high-quality long term investors like Trifecta Capital.”
Brands that come under the Good Glamm Group umbrella will be able to leverage a large digital audience comprising 88 million POPxo annual users, 220,000 Plixxo influencers and Baby Chakra’s 20 million mothers’ community and 10,000 doctors network. This powerful digital reach, coupled with MyGlamm’s 20,000 offline points of sale, gives the Good Glamm Group an unusual scale. The Group’s expertise in DTC growth, new product development, technology, and data science is further augmented by this.
“Converting content users to buyers has always been the holy grail in the direct-to-consumer industry. Darpan (Sanghvi) showed massive foresight when he merged MyGlamm, a beauty company with POPxo and Plixxo, a content and influencer company,” said Priyanka Gill, co-founder, Good Glamm Group. “This successful merger laid the foundation of the Good Glamm Group. Investors have shown great confidence in our innovative model and we are excited to build and scale the Digital FMCG Conglomerate of the Future.”
The company has a senior leadership team involving industry experts from traditional FMCG companies like Unilever, Godrej and L’Oreal and new age e-commerce firms like Myntra and Nykaa. The Good Glamm Group declared it is firmly positioned to be the digital FMCG Conglomerate of the future.
“Good Glamm Group is setting new standards in D2C not just in India but globally,” said Naiyya Saggi, co-founder, Good Glamm Group. “It is unprecedented for brands, consumers and experts to come together virtually at this scale under one umbrella, leverage communities and conversations powered by the product, tech and data, to co-create care and beauty products for the new generation of Indian women.”
The group maintained that it is bound to comprehensive beauty and cruelty-free, vegan and environment-friendly clean products. Its content-to-commerce approach is democratising access to beauty products and guidance. Its products combine make-up, skincare, haircare, personal care, and soon to be launched baby-care products. The firm said its products are manufactured with formulations most suitable to solve millions of consumers' beauty and personal care necessities.
“We are big believers in the company’s vision of building the digital house of brands, Trifecta Capital. “We have a strong conviction in Darpan (Sanghvi) and his team’s capabilities to execute this bold vision.” MyGlamm leveraged an innovative acquisition strategy when it procured POPxo and Plixxo in mid-2020. It established the content-to-commerce model through which it engaged millions of women to create beauty products and actively convert content users to product-buyers. It encourages this model and has staked into the mom and baby section through its recent acquisition of BabyChakra. The establishment of the Good Glamm Group is a coming collectively of this ‘Digital House of Brands’ powered by a content-to-commerce model.