MYGLAMM Raises Rs. 255 Crores In Series C Round
With this additional funding, the Good Glamm Group has earmarked a Rs 750 crore war-chest to make strategic investments in innovative beauty & personal care brands.
India’s fastest growing direct-to-consumer beauty brand MyGlamm announces the formation of the Good Glamm Group. This pivotal announcement consolidates its position as a ‘Digital House of Brands’ powered by a content-to-commerce strategy.
The Company has also topped up its Series C fundraise with a Rs. 255 crores infusion led by an equity investment from the Trifecta Leaders Fund and structured financing from Trifecta Capital and Stride Ventures. With this additional funding, the Good Glamm Group has earmarked a Rs 750 crore war-chest to make strategic investments in innovative beauty & personal care brands.
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 & 10,000 doctors network. This impressive digital reach, combined with MyGlamm’s 20,000 offline points of sale gives the Good Glamm Group an unprecedented scale, further amplified by the Group’s unparalleled expertise in DTC growth, new product development and technology & data science.
With a senior leadership team comprising industry veterans from traditional FMCG companies like 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 cofounders Priyanka Gill and Naiyya Saggi, The Good Glamm Group is strongly positioned to be the digital FMCG Conglomerate of the Future.
The ‘Good’ in the Good Glamm Group underscores the group’s commitment to inclusive beauty and cruelty-free, vegan and environment-friendly clean beauty products. With its content-to-commerce approach to democratising access to beauty products and advice, the Good Glamm Group is focused on the ‘Consumer’ in Directto-Consumer. From make-up, skincare, hair care, personal care and soon to be launched baby-care products, the Good Glamm Group is creating a differentiated portfolio of high efficacy products made with good-for-you formulations that are best suited to solve the beauty and personal care needs of millions of consumers.
MyGlamm leveraged an innovative acquisition strategy when it acquired POPxo and Plixxo in mid-2020, successfully pioneering the content-to-commerce model through which it engaged millions of women to actively participate in the process of creating beauty products and converting content-users to product-buyers. It continues to strengthen this model and has ventured into the mom and baby segment through its recent acquisition of BabyChakra. The formation of the Good Glamm Group is a coming together of this ‘Digital House of Brands’ powered by content-to-commerce model.
“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. In this journey, we have partnered with high quality long term investors like Trifecta Capital.” says Darpan Sanghvi, Founder & CEO, Good Glamm Group.
“Converting content users to buyers has always been the holy grail in the direct-toconsumer industry. Darpan showed massive foresight when he merged MyGlamm, a beauty company with POPxo and Plixxo, a content and influencer company. This successful merger laid the foundation of what is proudly announced today as 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.” says Priyanka Gill, Co-Founder, Good Glamm Group.
“Good Glamm Group is setting new standards in D2C not just in India but globally. It is unprecedented for brands, consumers & experts to come together virtually at this scale under one umbrella, leverage communities & conversations powered by product, tech & data, to co-create care & beauty products for the new generation of Indian women.” says Naiyya Saggi, Co-Founder, Good Glamm Group.
“Trifecta Capital is proud to partner in this stellar journey of MyGlamm and its transformation into the Good Glamm Group. We are big believers in the company’s vision of building the digital house of brands and have strong conviction in Darpan and his team’s capabilities to execute this bold vision. Through our recently launched equity fund Trifecta Leaders Fund - I, we have provided growth financing to the company. We continue to support such exciting businesses across their lifecycle with a range of financing solutions tailored for the startup ecosystem.” says Rahul Khanna, Managing Partner, Trifecta Capital.
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