MyGlamm

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MyGlamm
Company typePrivate
Industry
Founded2015; 9 years ago (2015) in Mumbai, India
FounderPriyanka Gill
Darpan Sanghvi
Naiyya Saggi
Headquarters
Mumbai
,
India
Area served
India
Key people
Priyanka Gill (President)
Darpan Sanghvi (CEO)
ProductsCosmetic products
BrandsPOPxo, Plixxo, MissMalini, Baby Chakra, The Moms Com, Winkl, ScoopWhoop, Vidooly and Organic Harvest
ParentThe Good Glamm Group
Sanghvi Technologies
WebsiteOfficial website

MyGlamm is an Indian e-commerce company that sells cosmetics and personal care products.[1] It was founded in 2015, headquartered in Mumbai, India. The company is owned by The Good Glamm Group and Sanghvi Technologies.[2][3][4] In 2021, the company became the first Indian unicorn startup in the DTC beauty and personal care business.[5]

History

MyGlamm was founded in 2015 by Darpan Sanghvi as an at-home beauty salon service.[4] In 2017, it was relaunched as an online cosmetic beauty company in India. In December 2018, it launched its luxury category, Manish Malhotra Haute-Couture Makeup, in partnership with fashion designer Manish Malhotra.[6] In December 2020, the company launched the Manish Malhotra Luxe Artisanal Skincare range.[7] As of September 2021, it has 20,000 POS across 70 cities in India.[8]

In November 2020, MyGlamm launched an experiential store of 3000 square foot in Juhu, Mumbai.[9][10] In October 2021, the compny entered the haircare segment with its MyGlamm Superfoods range.[11]

Acquisitions

In August 2020, MyGlamm acquired the digital media platform POPxo[12] and influencer marketing company Plixxo, both founded by Priyanka Gill in 2014 and 2017, respectively.[13] In August 2021, MyGlamm acquired the parenting platform Baby Chakra for an undisclosed sum to expand its operations in South Asia.[14]

In October 2021, the company acquired the D2C brand, The Moms Com, for ₹500 crore,[15] followed by the acquisition of ScoopWhoop, a digital media company.[16][17] It made its fifth acquisition by acquiring Miss Malini Entertainment for an undisclosed sum.[18] It bought a majority stake in Organic Harvest, an organic personal care brand, in January 2022.[19]

Funding

In April 2016, MyGlamm raised US$6 million as part of a Series A round from French personal care retailer L'Occitane en Provence, private equity fund Tano Capital and Brand Capital.[20] It received $15 million in the second round of funding from Tano Capital in August 2018.[21] In 2021, the company secured $4.35 million as part of a Series B round of funding from Tano India Private Equity, L'Occitane International, Bessemer Venture Partners, Trifecta Venture Debt Fund II and the company's founder Darpan Sanghavi through Rights Issue.[22] In June 2019, it secured raised US$14.42 million in a round led by Bessemer Venture Partners, L'Ocitane and Mankekar Family Office.[23] As of March 2021, it was valued at US$500 million and had raised $24 million in a Series C round, led by Ascent Capital Group, Amazon and Wipro.[23] In November 2021, it became a unicorn after raising $150 million at a valuation of $1.2 billion.[24]

Business model

MyGlamm is a Direct-to-consumer business that operates on a hybrid online-offline model, generating about 60 percent of sales online and the rest from offline.[25] The company began its operation in 2015 as an on-demand beauty service through which customers could reserve a home spa or beauty and hair care service. However, in 2017, the company changed its business model by introducing its cosmetic products in the market.[2]

Advertising

In December 2018, the company ran an advertising campaign #TestedOnSid, in which actor Siddharth Malhotra was seen endorsing MyGlamm's product. Various news outlets reported it as the first male actor to endorse a female cosmetic brand.[26][27] In March 2020, a video ad was released featuring actress Sonakshi Sinha.[28] In June 2021, actress Shraddha Kapoor was appointed as the company's brand ambassador,[29] who also invested in the company with an undisclosed amount.[30] In September 2021, it launched its second TVC introducing the MyGlamm Superfoods Kajal.[31] In October 2021, its third TVC was released featuring Sonam Kapoor.[32]

Sponsorship

The company has sponsored the Filmfare OTT Awards for the year 2021.[33] It was a presenting sponsor for the 7th season of the TV reality talk show Koffee with Karan.[34]

See also

References

  1. ^ Thaker, Naini (July 14, 2022). "How The Good Glamm Group is building a content-to-commerce behemoth". Forbes India.
  2. ^ a b Shah, Sneha; Peermohamed, Alnoor (March 18, 2021). "Amazon backs MyGlamm in first consumer brand bet in India". The Economic Times.
  3. ^ Shanthi, S (January 14, 2022). "The Genesis and Vision Of Good Glamm Group". Entrepreneur.
  4. ^ a b Chopra, Arushi (July 13, 2016). "MyGlamm to expand to 10 new cities, launch own product line". Livemint.
  5. ^ Abrar, Peerzada (November 10, 2021). "Good Glamm Group India's first unicorn in DTC beauty and personal care biz". Business Standard.
  6. ^ Nisar, Naqshib (December 4, 2018). "Designer Manish Malhotra to Launch his First-ever Makeup Line 'Haute Couture'". News 18.
  7. ^ Gupta, Punja (December 22, 2022). "Manish Malhotra launches his skincare line". The Hans India.
  8. ^ Shanthi, S (September 22, 2021). "6 Leading D2C Brands Share Their Offline Plans". Entrepreneur.
  9. ^ "MyGlamm launches India's largest beauty experiential store in Mumbai". India Retailing. November 27, 2020.
  10. ^ Dalal, Avanti (March 10, 2021). "The new MyGlamm store takes the traditional beauty counter to a whole new level". Vogue.
  11. ^ Lamba, Charu (September 28, 2021). "Why MyGlamm is Betting Big on Content-to-Commerce Model". Indian Retailer.
  12. ^ Tandon, Suneera (August 7, 2020). "Beauty brand MyGlamm acquires POPxo". Livemint.
  13. ^ Dey, Asmita (October 28, 2021). "ScoopWhoop, The Moms Co. in bag... inside Good Glamm's acquisition binge". Fortune India.
  14. ^ Mishra, Shruti (August 17, 2021). "MyGlamm acquires BabyChakra to build India's largest parenting platform". CNBC TV18.
  15. ^ "Beauty brand MyGlamm acquires The Moms Co for Rs 500 crore in big consolidation move". The Economic Times. October 6, 2021.
  16. ^ "Good Glamm Group acquires ScoopWhoop with an eye on the fast-growing male segment". Business Today. October 20, 2021.
  17. ^ Bhalla, Kriti (October 21, 2021). "With ScoopWhoop and POPxo in its kitty, here's what MyGlamm intends to do". Business Insider.
  18. ^ Bhalla, Tarush (December 13, 2021). "Good Glamm Group makes fifth acquisition in 2021, acquires Miss Malini". Livemint.
  19. ^ Shah, Sneha (January 23, 2022). "Good Glamm Group buys majority stake in Organic Harvest in all-cash deal". The Economic Times.
  20. ^ Paul, Bina (April 7, 2016). "Beauty services startup MyGlamm raises $6M from LOccitane, others". TechCircle.
  21. ^ Chatterjee, Purvita (August 30, 2018). "On-demand beauty services start-up MyGlamm to raise $15 m". The Hindu Business Line.
  22. ^ Didmishe, Shashank (January 16, 2020). "L'Occitane-backed beauty etailer MyGlamm adds $4.35 mn to funding cart". TechCircle.
  23. ^ a b Kapur, Narinder (March 18, 2021). "Amazon, others lead Series C round in beauty brand MyGlamm". TechCircle.
  24. ^ Singh, Manish (November 9, 2021). "Indian D2C beauty brand MyGlamm becomes unicorn with $150 million funding". TechCrunch.
  25. ^ "MyGlamm to raise Rs 110 cr from new, existing investors; to wrap up fund-raising by Jan". The Economic Times. December 4, 2020.
  26. ^ "Sidharth Malhotra becomes the first actor ever to endorse a female make-up brand". DNA India. December 11, 2018.
  27. ^ "Sidharth Malhotra is the face of a new cruelty-free make-up collection". Elle. 2019.
  28. ^ Sen, P. (August 8, 2019). "Sonakshi Sinha looks stunning as the face for MyGlamm's new HD make-up range". Indulgexpress.com. The New Indian Express.
  29. ^ Mishra, Shruti (June 17, 2021). "MyGlamm names actor Shraddha Kapoor brand ambassador and investing partner". CNBC TV18.
  30. ^ "Shraddha Kapoor invests in beauty brand MyGlamm". Livemint. June 17, 2021.
  31. ^ "Shraddha Kapoor introduces MyGlamm's 'Superfoods Kajal'". Exchange4media. Sep 19, 2021.
  32. ^ Bhatia, Yash (October 7, 2021). "MyGlamm launches 100 lipstick shades to make customers feel 100/100". Indiaretailing.com.
  33. ^ "TCL Partners with MyGlamm Filmfare OTT Awards 2021 as an Associate Sponsor". The Hans India. November 24, 2021.
  34. ^ "MyGlamm comes on board as sponsor for Season 7 of Koffee with Karan". Adgully. July 8, 2022.

External links

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