Beauty brand MyGlamm unveils Good Glamm Group, raises Rs 255 cr in Series C

 With a Rs 750-crore war chest, the Good Glamm Group will also make strategic investments in innovative beauty and personal care brands

MyGlamm, India’s fastest growing direct-to-consumer beauty brand, has announced the formation of the Good Glamm Group. This move consolidates its position as a ‘Digital House of Brands’ powered by a content-to-commerce strategy.

The firm has also topped up its Series C fundraise with a Rs 255 crore 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 and personal care brands.

“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,” said Darpan Sanghvi, founder and CEO, Good Glamm Group.

In July, this year MyGlamm raised a part of Series C funding round at Rs 530 crore from investors including Accel. This included a top-up of Rs 355 crore to the existing Rs 175 crore it had raised in March of this year from investors such as Ascent Capital, Amazon and Wipro Consumer. This also marked one of the first investments made by e-commerce firm Amazon in a beauty brand in India.

Sanghvi said 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,” said Sanghvi. “In this journey, we have partnered with high-quality long-term investors like Trifecta Capital.”

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 and 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. This is further amplified by the Group’s expertise in DTC growth, new product development and technology and data science.