Beauty-personal care Unicorn well positioned to create a large digital-first business
International investors have strongly backed the Good Glamm Group’s US$150 million Series D round which will be invested in product development, support data science and technology research as well as increase offline expansion. It will also be expanding its creator and content capabilities.
“We are delighted to back Darpan (Sanghvi, Group Founder & CEO) and the entire team at the Good Glam Group. With a strong portfolio of D2C (Direct to Consumer) 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.” said Vishal Mahadevia, Managing Director and India Head at Warburg Pincus, which among the investors in the Group that will also continue to make strategic investments in top beauty and personal care brands.
Ashutosh Sharma, Head of Investments, India, Prosus Ventures, added, “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 D2C 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 Glamm Group, South Asia’s largest content-to-commerce conglomerate, has raised US$150 million funding in its Series D round, including both primary and secondary sales.
The marquee tech and private equity investors Prosus Ventures and Warburg Pincus were joined in the funding by Alteria Capital and existing investors L’Occitane, Bessemer Venture Partners, Amazon, Ascent Capital, the Mankekar Family Office and Stride Ventures.
Founded by Darpan Sanghvi, Priyanka Gill and Naiyya Saggi, The Good Glamm Group, comprises a portfolio of proprietary beauty and personal care brands powered by its digital ecosystem of content, community and creator assets.
Beauty and 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 tween cosmetics brand), 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 each brand under the Good Glamm Group umbrella an unprecedented opportunity to scale both online and offline. This opportunity is further amplified by the Group’s deep expertise in DTC growth, new product development, and technology and data science. These combined assets are attracting India’s leading, innovative, and fast-growing beauty and personal care brands. To date, the Group has made acquisitions and investments worth US$270 million.
The Good Glamm Group will utilize its latest funding to invest in product development, support data science and technology research and increase offline expansion while also expanding its creator and content capabilities. The Group will also continue to make strategic investments in top beauty and personal care brands.
“Entering the Unicorn Club marks Day one 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,” said Sanghvi.
“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,” added Gill.
“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 and Warburg Pincus. 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 consumers’ lifecycle,” said Saggi.
The ‘Good’ in Good Glamm Group underscores the company’s commitment to inclusive beauty and cruelty-free, vegan, clean, and environmentally friendly beauty products. With its content-to-commerce approach to democratizing access to beauty products and advice, the Good Glamm Group is focused on the ‘Consumer’ in D2C. #investment #banking /fiinews.com
