Interview: Darpan Sanghvi, Group Founder & CEO, The Good Glamm Group

The Good Glamm Group, which owns brands such as MyGlamm, POPxo and Plixxo, has embarked on a wave of buying – the most recent being an investment in Sirona Hygiene – in its quest to become a “conglomerate of beauty and health. personal care “. Darpan Sanghvi talks to Vaishnavi Gupta about the idea behind the company’s multiple acquisitions, its revenue target of $ 250 million by March 2022, and its content-to-commerce strategy.

The Good Glamm group recently raised $ 150 million. Where do you plan to inject these funds?

Prior to this round, we had raised $ 100 million in Series C. We used those funds to acquire companies worth $ 270 million – BabyChakra, The Moms Co. and ScoopWhoop. The funds that we have raised now are primarily intended for consolidation and growth. We are looking to expand the content creation capabilities and digital reach of POPxo, BabyChakra, and ScoopWhoop. We have just invested Rs 100 crore in Sirona Hygiene, marking our entry into the feminine hygiene category. We will also be acquiring brands in the men’s skincare category in the next two months. We want to become a beauty and personal care conglomerate, based on a content-to-commerce strategy.

The Good Glamm group acquired ScoopWhoop in October of this year, and more recently, Miss Malini Entertainment. What is the strategy?

With ScoopWhoop, we want to enter the men’s grooming segment, which is a $ 1.5 billion market, with the same content-to-commerce strategy. We will invest Rs 500 crore in the men’s segment over the next two years which includes the investment in ScoopWhoop and the buyout of men’s skincare brands. We would leverage ScoopWhoop’s audience to build these brands and launch them online and offline across the country.

Miss Malini Entertainment will help us access a strong network of influencers, celebrities and market know-how. As MissMalini Entertainment will continue to work independently, our brands will be able to leverage its expertise in the celebrity and influencer talent management segment as well as its reach of over 60 million monthly users.

How do you plan to achieve The Moms Co.’s Rs 500 crore revenue rate in two years?

We acquired The Moms Co. in October of this year and are infusing Rs 100 crore as the main capital for its growth. The brand is currently recording an annual income rate of Rs 150 crore. It has 45 references in categories such as baby care, skin care, hair care, etc. Its main sales channel at the moment is made up of third-party markets like Amazon and Nykaa, which contribute 90% of its total sales, while the remaining 10% comes from its D2C website. We will deepen the product offerings and increase the contribution of its D2C website to 30% of total sales over the next two years. We will also add offline as another distribution channel for The Moms Co. by leveraging our 30,000 locations.

How do you plan to strengthen your presence in the childcare category?

We will invest Rs 100 crore over the next three years to build BabyChakra. We will also be launching a portfolio of over 80 personal care products for mom and baby over the next eight to 12 months. Priced at Rs 199-400, these products will be available in marketplaces like Amazon and Nykaa, the D2C website and offline contact points. Our goal is to record Rs 500 crore in income over the next three years.

What is the roadmap for MyGlamm and POPxo?

The Good Glamm Group has current revenue of $ 140 million and is targeting $ 250 million by March 2022. MyGlamm aims to become a Rs 1,000 crore brand by next year. In November of last year, the brand launched a 3,000 square foot flagship store in Mumbai; a store will be launched in Delhi by April 2022. MyGlamm also plans to increase its offline outlets to one lakh from the current 30,000 by March of next year.

Today, consumers who engage in makeup are looking for makeup kits rather than a single product. That’s why we launched the POPxo makeup collection from MyGlamm. Targeting the 16-27 age group, this collection includes 13 pigmented and travel-friendly kits for eyes, face, lips and nails, under Rs 499. POPxo has 60 million monthly active users and hopes to reach 100 million by March. 2022. We aim for POPxo to become the fastest beauty brand to achieve a revenue rate of 100 crore within the next 12 months.

Read also: Villain Lifestyle launches #DeoNahiVillain campaign with Randeep Hooda

follow us on Twitter, Instagram, LinkedIn, Facebook