Good Glamm Group Buys Majority Stake In D2C Brand Organic Harvest

Must read

Good Glamm Group will further invest INR 75 Cr in Organic Harvest

The acquisition will allow Harvest to leverage Good Glamm’s large online audience and over 50,000 offline sale points in 150 cities

This is Good Glamm Group’s third acquisition this month after Vidooly and Winkl

Content-to-commerce unicorn, Good Glamm Group, has picked up a majority stake in beauty and personal care startup, Organic Harvest.

This will entail a fresh infusion of INR 75 Cr in the beauty startup. As part of the deal, Organic Harvest will be able to leverage Good Glamm Group’s large online audience and over 50,000 offline sale points in 150 cities. The beauty startup will also utilise data-driven insights from the group’s content platforms and influencer marketing to market new products.

The Good Glamm Group claims to have a large digital audience — 88 Mn POPxo annual users, 100 Mn ScoopWhoop users and 20 Mn strong community of mothers on BabyChakra, along with 1.5 Mn Good Creator Co influencers.

Founded in 2013, Organic Harvest is the brainchild of Rahul Agarwal. The startup is an organic personal care brand that offer products made from plants without the involvement of hazardous chemical fertilizers. The beauty startup claims to have catered to over 2 Mn customers across 10,000 pin codes in India.
The unicorn says that the cofounders of the two startups will work closely to accelerate Organic Harvest’s presence in India and globally.

Good Glamm Group CEO and cofounder, Darpan Sanghvi said, ”Rahul has created India’s largest and most innovative portfolio of ECOCERT certified Organic Beauty & Personal Care products and we are incredibly excited to leverage the Good Glamm Group’s digital reach and content assets to allow millions of consumers in India to discover the amazing Organic Harvest brand and products”

Echoing the sentiment, Organic Harvest CEO, Rahul Agarwal, said, “With this partnership, our aspiration to become the world’s largest Organic personal care company, seems to be easily achievable. I am super excited to be a part of the group, and do some exceptional work with all co-founders.”

This is Good Glamm Group’s fourth acquisition since December. The startup recently acquired influencer marketing platform Winkl and video analytics startup Vidooly for an undisclosed amount. In December too last year, the startup had acquired media platform Miss Malini for an undisclosed amount. 

Earlier this month, the Amazon-backed unicorn consolidated four of its acquisitions – Plixxo, MissMalini, Winkl and Vidooly – into an influencer marketing subsidiary , Good Creator Co. It also announced an infusion of INR 200 Cr into the new venture.

The unicorn is an amalgamation of multiple brands – MyGlamm, POPxo, BabyChakra, The Moms Co. and Sirona. Darpan Sanghvi founded D2C brand MyGlamm in 2017, Priyanka Gill founded the digital media platform POPxo in 2013 and the online parenting startup, BabyChakra, was founded by Naiyya Saggi in 2015. The three brands joined forces and were rebranded as the Good Glamm Group in September last year. Later in October, the group added D2C brand The Moms Co. to its portfolio.

This was followed by feminine hygiene startup Sirona raising INR 100 Cr in Series B funding from Good Glamm Group. 

The D2C unicorn raised $150 Mn in its Series D round last year, valuing the startup at well over $1.2 Bn. The round was led by marquee investors such as Warburg Pincus, Prosus Ventures, Amazon, among others.

India’s beauty and personal care startups have been on a funding spree for a couple of quarters now. In December last year, Mamaearth’s parent brand, Honasa Consumer, raised $52 Mn led by Sequoia, valuing the startup at $1.15 Bn. Online beauty marketplace Purplle too raised almost $38 Mn in its extended Series D round, earlier this month, valuing it at $725 Mn.

This came on the back of strong performances by beauty startups and content platforms in 2021. D2C brand Mamaearth acquired women-focused content platform Momspresso last December for an undisclosed sum. SUGAR Cosmetics also bagged $21 Mn in its Series C round in February last year, followed by Purplle which raised close to $100 Mn in November last year.

Previously, even recently listed beauty and lifestyle unicorn Nykaa has outlined its plans to turn the company into an umbrella brand for lifestyle products, rather than become a multi-brand retailer.

An Inc42 report estimates that India’s beauty and personal care market is growing at a CAGR of 12.5% and is projected to reach $37.2 Bn by 2025. The D2C beauty market is also witnessing a major surge and is poised to grow to $5 Bn by 2025 at a CAGR of 9.3%.

Source link

More articles

- Advertisement -


PhonePe’s FY21 Losses Decline Marginally, Operating Revenue Up 86%

PhonePe’s revenue from operations surged about 86% to INR 690 Cr in FY21 While the startup’s revenue from payments and allied services was INR...
- Advertisement -

Latest article