Good Glamm lands US$150M and becomes India’s first DTC “unicorn” in beauty and personal care

12 Nov 2021 --- South Asia’s largest content-to-commerce conglomerate the Good Glamm Group has raised US$150 million funding in its Series D round, including both primary and secondary sales. The move elevates the company to “unicorn” status, meaning a private company with a valuation over US$1 billion.

The group will utilize its latest funding for product development, support data science and technology research and increase offline expansion while also expanding its creator and content capabilities.

The company will also continue to make strategic investments in top beauty and personal care brands.

Good Glamm comprises proprietary beauty and personal care brands powered by its digital ecosystem of content, community and creator assets.“The Good Glam Group, with a strong portfolio of D2C brands and proprietary content assets, 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, who co-led the investment round.

Business unicorns
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.

The round was also co-led by marquee tech and private equity investors Prosus Ventures, along with the participation from Alteria Capital and existing investors L’Occitane, Bessemer Venture Partners, Amazon, Ascent Capital, the Mankekar Family Office and Stride Ventures.

Wide digital reach
Beauty and personal care brands owned by the Good Glamm Group include MyGlamm, which is India’s fastest-growing cosmetics brand. It also includes MomsCo, India’s leading premium mom and baby brand, and POPxo, which is India’s first tween cosmetics brand. The company also includes Baby Chakra, which is a baby products brand.

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).
• Plixxo (India’s leading creator and influencer management platform with 220,000 influencers onboarded).

This digital reach, combined with over 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 opportunity to scale both online and offline.

The funding elevates the company to “unicorn” status, which is a private company with a valuation over US$1 billion.This opportunity is further amplified by the company’s 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 company notes.

Inclusive beauty
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 Direct-to-Consumer.”

“Being part of Good Glamm Group is an opportunity to 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,” notes Priyanka Gill, co-founder of the Good Glamm Group.

PersonalCareInsights previously reported on the digital commerce landscape with the Metaverse and NFTs ushering a new beauty commerce era.

In the same DTC spirit, Catrice Cosmetics revamped its retailer strategy in 2022 to focus on an online, consumer-driven shopping experience, with its entire range being available exclusively via the Catrice website and Amazon. Coty also introduced Kylie Jenner’s latest brand Kylie Baby exclusively available via the brand’s DTC website.

By Kristiana Lalou

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