The Good Glamm Group, which owns brands such as MyGlamm, POPxo and Plixxo, has been on a shopping spree — most recent being an investment in Sirona Hygiene — in its quest to become a “beauty and personal care conglomerate”. Darpan Sanghvi talks to Vaishnavi Gupta about the idea behind the company’s several acquisitions, its $250 million revenue target by March, 2022, and its content-to-commerce strategy.
The Good Glamm Group recently raised $150 million. Where do you plan to infuse these funds?
Prior to this round, we had raised $100 million in series C. We utilised those funds to acquire companies worth $270 million — BabyChakra, The Moms Co. and ScoopWhoop. The funds that we have raised now are essentially to consolidate and grow. We look to expand the content creation capabilities and digital reach of POPxo, BabyChakra and ScoopWhoop. We just invested Rs 100 crore in Sirona Hygiene, marking our entry into the feminine hygiene category. We will also acquire brands in the men’s grooming category in the coming two months. We want to become a beauty and personal care conglomerate, which is based on a content-to-commerce strategy.
The Good Glamm Group acquired ScoopWhoop in October this year, and most recently, Miss Malini Entertainment. What’s the strategy?
With ScoopWhoop, we want to get into the men’s grooming segment, which is a $1.5 billion market, with the same content-to-commerce strategy. We will be investing Rs 500 crore in the men’s segment over the next two years, which includes the investment in ScoopWhoop and buying out men’s grooming brands. We would be leveraging the audience of ScoopWhoop to build those brands, and launch them online and offline across the country.
Miss Malini Entertainment will help us access a robust network of influencers, celebrities and market know-how. While MissMalini Entertainment will continue to work independently, our brands will get to leverage its expertise in the celebrity and influencer talent management segment along with its reach of over 60 million monthly users.
How do you plan on achieving the Rs 500 crore revenue run rate from The Moms Co. in two years?
We acquired The Moms Co. in October this year, and are infusing Rs 100 crore as primary capital for its growth. The brand is presently clocking an annual revenue run rate of Rs 150 crore. It has 45 SKUs in categories like baby care, skincare, haircare, etc. Its primary sales channel at present is third-party marketplaces like Amazon and Nykaa, which contribute 90% of its total sales, while the rest 10% is contributed by its D2C website. We will deepen the product offerings and increase the contribution of its D2C website to 30% of total sales in the next two years. We will also add offline as another distribution channel for The Moms Co. by leveraging our 30,000 points of sale.
How do you intend to strengthen your presence in the baby care category?
We will be investing Rs 100 crore over the next three years to build BabyChakra. We will also be launching a portfolio of more than 80 mom-and-baby personal care products in the next eight to 12 months. Priced between Rs 199-400, these products will be made available on marketplaces like Amazon and Nykaa, the D2C website, and offline touchpoints. Our goal is to clock Rs 500 crore in revenue over the next three years.
What is the roadmap for MyGlamm and POPxo?
The Good Glamm Group has a current revenue rate of $140 million, and is targetting $250 million by March, 2022. MyGlamm aims to become a Rs 1,000 crore brand by next year. In November last year, the brand launched a 3,000 sq ft flagship store in Mumbai; a store will be launched in Delhi by April, 2022. MyGlamm also plans to increase its offline points of sale to one lakh, from the current 30,000, by March next year.
Today, consumers who are starting with make-up are looking for make-up kits rather than a single product. Therefore, we launched the POPxo Makeup Collection by MyGlamm. Targetted at the 16-27 age group, this collection comprises 13 pigmented, travel-friendly kits for the 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 reach Rs 100 crore revenue run rate in the next 12 months.