MyGlamm is a beauty and skincare e-commerce company that offers a myriad of beauty products. It is a thriving part of the Good Glamm Group, founded by Darpan Sanghvi and co-founded by Priyanka Gill and Naiyya Saggi. This D2C beauty company is also India’s first FMCG conglomerate.
Not limited to the beauty and skincare fields, It has leveraged the 3 C’s: Content, Commerce, and Creators. In addition, once a start-up or an organization crosses the 1 billion mark in valuation, it becomes a unicorn. Now, The Good Glamm Group is recognized as a Unicorn in the start-up world.
Highlights:
- MyGlamm acquires content platforms such as PopXo, and Scoopwhoop.
- Organic Harvest merges with the Good Glamm Group.
- MyGlamm is India’s first FMCG conglomerate.
With a $1.2 billion valuation, My Glamm has taken a step forward towards expanding and possibly more acquisitions. Moreover, MyGlamm offers cruelty-free, vegan, and toxin-free products that come in biodegradable packaging. Shraddha Kapoor is the brand ambassador and investor in MyGlamm.
In Series D funding, MyGlamm raised $150 million.
MyGlamm entered the race to be the fastest growing company to become a unicorn by raising $150 million in Series D funding in December 2021. Furthermore, the investors who participated in the Series D funding include Warburg Pincus, Prosus Ventures, Alteria Capital, Amazo, Bessemer Venture Partners, Ascent Capital, L’Occitance en Provence, and Mankekar Family Office.
In over 12 rounds of funding, MyGlamm has raised total funding worth $311.9 million. In addition, in March 2021, with Series-C funding, Amazon invested in MyGlamm. Also, this marked the first incident where Amazon invested in an Indian direct-to-consumer brand.
In the same funding series, MyGlamm raised Rs 13.5 crores solely from Trifecta Capital. Among the 11 lead investors, Prosus Ventures, Warburg Pincus, Trifecta Capital, and Stride Ventures are a few names.
According to a report by Economic Times in July, Good Glamm is supposedly in talks to acquire Raymond Group’s consumer care product business. However, Good Glamm hasn’t commented. It recently acquired Organic Harvest, a beauty products organization, in January. In the upcoming funding series, MyGlamm expects to raise approximately $250 million from the existing investors.
MyGlamm plans to expand and acquire more consumer and content companies.
MyGlamm has acquired 13 businesses, with a mix of product and content organizations. In July 2020, it acquired PopXo, a women-centric content company founded by Priyanka Gill. Along with PopXo, it also acquired Schoopwoop, BabyChakra, The Moms Co, and Miss Malini Entertainment.
Furthermore, it continues on its acquisition spree by adding emerging beauty and skincare companies such as Organic Harvest, St. Botanica, Plixxo (an influencer management platform), and more.
This content-to-commerce company recorded a 12.2% growth in its operating revenues during the fiscal year ending March 2021. The Good Glamm Group is looking up to hit the public markets in 2024. In an interview with Entrepreneur, founder of MyGlamm, Darpan Sanghvi, said, “We created content and a creator engine, which allowed us to get traffic on our websites.
Today, if you see our business, about 85 per cent of our online revenue comes from our own website, which nobody else has.”
As of today, The Good Glamm Group aims to create a community for women to discuss and follow personal care issues. In 2021, MyGlamm invested 100 crore INR in Sirona, a company that focuses on providing feminine hygiene products. In addition, the company will have more than 2,000 points of sale (POS) across 50 cities in India by 2020. The POS statistics doubled as it reached 10,000 POS in 70 cities by March 2021.
