MyGlamm parent scouts for digital-first beauty brands

Sanghvi Beauty and Technologies, which operates direct-to-consumer (D2C) beauty and private care model MyGlamm, on Monday consolidated its varied companies underneath the Good Glamm Group.

In a press release, the corporate stated it’s going to make investments ₹750 crore in 4 to 6 digital-first beauty and private care brands over the following six months, because it pursues inorganic development.

The firm additionally stated it has accomplished a ₹255 crore Series C fundraise led by Trifecta Leaders Fund and structured financing from Trifecta Capital and Stride Ventures.

MyGlamm is backed by Bessemer Venture Partners, L’Occitane, Amazon, Trifecta and Stride Ventures and different traders.

Between March and September, the corporate has raised ₹755 crore in funding.

Good Glamm is planning a inventory market itemizing in FY23-24, founder and CEO Darpan Sanghvi stated.

D2C brands throughout classes are set to turn out to be a $100 billion addressable market by 2025, in keeping with a 2020 report by Avendus Capital.

The D2C market already has greater than 600 brands throughout classes comparable to beauty and private care, packaged meals, attire and footwear.

Sanghvi stated a brand new set of digital-first brands are prone to emerge to tackle incumbent shopper items gamers within the beauty and private care area. “The fast-moving shopper items conglomerate of the long run goes to be constructed by somebody who understands digital rather well, and it’s going to be a digital-first FMCG conglomerate,” he stated.

Good Glamm will make strategic investments in 4 to 6 brands within the pores and skin, hair, bathtub, physique and child care segments. It might even put money into content-focused platforms which have a giant shopper base.

“We’re doing fascinating deal buildings whereby all of the brands that we put money into or purchase can be a mix of money, some inventory within the parent and earn-outs for the founders over the following two years as they scale the model up,” stated Sanghvi.

It will then use its deep community on content-led platforms comparable to PopXo and BabyChakra, each of which have been acquired by Sanghvi Beauty and Technologies, to assist brands widen their attain on the web.

“Brands that come underneath the Good Glamm Group umbrella will be capable to leverage a big digital viewers comprising 88 million PopXo annual customers, 220,000 Plixxo influencers and Baby Chakra’s 20 million moms’ group together with MyGlamm’s 20,000 offline factors of sale,” the corporate stated.

Sanghvi didn’t expose the names of brands that the group will put money into however stated it’s going to goal something that accelerates its journey of within the content-to-commerce area.

MyGlamm was based as a D2C beauty merchandise model in 2017. In 2020, it acquired content material and commerce corporations beginning with PopXo, a digital group for millennial ladies, aside from Plixxo, an influencer advertising and marketing platform. The buys have been centered on constructing a content-to-commerce technique.

In August, MyGlamm acquired BabyChakra, a parenting platform and group. It then promised to speculate ₹100 crore in BabyChakra to construct a mother-baby content-to-commerce platform.

A brand new set of brands and platforms is rising, that are focusing on customers past giant marketplaces. They use content material to have interaction with customers, attract influencers and push their merchandise on-line to onboard new prospects.

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About the Author: Amanda