The funds will be utilising its latest funding to invest in product development, support data science and technology research, increase offline expansion, fund working capital requirements
The Good Glamm Group, South Asia’s largest content-tocommerce conglomerate has raised $150 million funding in its Series D round, including both primary and secondary sales, co-led by marquee tech and private equity investors Prosus Ventures (Naspers), Warburg Pincus along with the participation from Alteria Capital and existing investors L’Occitane, Bessemer Venture Partners, Amazon, Ascent Capital and the Mankekar Family Office. The Good Glamm Group comprises a portfolio of proprietary beauty & personal care brands that are powered by a proprietary digital ecosystem of content, community and creator assets.
Beauty & personal care brands owned by the Good Glamm Group include MyGlamm (India’s fastest growing cosmetics brand), MomsCo (India’s leading premium mom and baby brand), POPxo (India’s first brand of cosmetics for tweens) and Baby Chakra (India’s first baby products brand co-created with mothers). These brands leverage the Group’s proprietary digital assets, which comprise of POPxo (India’s largest female content platform with 88 million users), ScoopWhoop (India’s largest male content platform with 100 million users), BabyChakra (India’s leading parenting platform with 20 million mothers and a network of 10,000 doctors) and Plixxo (India’s leading creator and influencer management platform with 220,000 influencers onboarded).
This unparalleled digital reach, combined with 30,000+ offline retail points of sale of the Group’s flagship beauty brand, MyGlamm, gives all the brands under the Good Glamm Group an unprecedented opportunity to scale both online and offline, further amplified by the Group’s deep expertise in DTC growth, new product development and technology & data science. Access to these value engines are attracting India’s leading new age, innovative and fast growing beauty & personal care brands to join the Good Glamm Group, towards which the group has already made acquisitions and investments worth $270 million to date.
The Good Glamm Group will be utilising its latest funding to invest in product development, support data science and technology research, increase offline expansion, fund working capital requirements while also expanding the content creation capabilities and digital reach of POPxo, Plixxo, BabyChakra and ScoopWhoop. The Group will also continue to make investments in more beauty & personal care brands.
“Entering the Unicorn Club marks Day 1 for all of us at the Good Glamm Group. And we couldn’t be more excited and privileged to embark on the journey from 1 to 10, with Prosus and Warburg, who bring incredible strength and experience to our company” says Darpan Sanghvi, Group Founder & CEO, Good Glamm Group.
“Being part of Good Glamm Group is a dream opportunity and a privilege as we become India’s largest DTC beauty and personal care company. Now with Prosus Ventures and Warburg Pincus as our investors and partners we are perfectly positioned to scale even faster and fulfill our mission.” says Priyanka Gill, Co-Founder, Good Glamm Group.
“The consumer’s needs are at the heart of all the work we do at the Good Glamm Group, and it is a privilege to build with Prosus Ventures and Warburg who are strong, mission aligned partners. This partnership demonstrates conviction in the Good Glamm Group’s vision to bring under one roof, trusted brands, passionate founders & teams driven to ensure the best care across our consumer’s lifecycle. It is a milestone for the entire group and inspires us to double down and work even harder.” says Naiyya Saggi, Co-Founder, Good Glamm Group.
“We are delighted to back Darpan and the entire team at the Good Glam Group. With a strong portfolio of D2C brands and proprietary content assets, the group is well positioned to scale rapidly and create a large digital-first business in the beauty and personal care space.” says Vishal Mahadevia, Managing Director and India Head at Warburg Pincus.
Ashutosh Sharma, Head of Investments, India, Prosus Ventures, said, “We are very excited to partner with the Good Glamm Group to disrupt the beauty and personal care industry and this marks our first investment in the DTC category. The Good Glamm team has paired desirable, homegrown brands with compelling content, building an incredibly engaged community and positioning them well for future growth in India and beyond.”
The ‘Good’ in the Good Glamm Group underscores its commitment to inclusive beauty and cruelty-free, vegan and environment-friendly clean beauty products. With its content-tocommerce approach to democratise access to beauty products and advice, the Good Glamm Group is focused on the ‘Consumer’ in Direct-to-Consumer. From make-up, skincare, hair care, personal care, hygiene to baby-care products, the Good Glamm Group has brands that are 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. Inspired by this ‘Good’ in the Group, Bollywood actor Shraddha Kapoor, who has an Instagram following of over 67 million fans, invested in the Good Glamm Group earlier this year and also became the brand ambassador for MyGlamm beauty products.
Source: Business World