New Delhi, July 06
Beauty and personal care company, the Good Glamm Group said it has restructured its business into three key divisions, in a bid to consolidate the slew of acquisitions made in the past year. The content-to-commerce platform also announced the launch of its international division.
“Led by Group Founder & CEO Darpan Sanghvi, Group Co-founders Priyanka Gill & Naiyya Saggi, the structure consolidates Good Glamm Group companies into independent Brands, Media and Creator divisions-Good Brands Co. led by Sukhleen Aneja; Good Media Co. Which will be led by Priyanka Gill and Good Creator Co. led by Sachin Bhatia along with the International Business division,” it said. This will help maximize revenue potential for all beauty and personal care brands in the group.
Darpan Sanghvi, Group Founder & CEO, The Good Glamm Group said this exercise is part of the company’s efforts to create a consolidated group structure helping unlock structural efficiencies within each division and drive cross-division revenue synergies, allowing them to be independently profitable.
“With most of the Series D fundraising capital still in the bank, we have set ourselves an ambitious revenue run rate target of $400 million by March 2023 for the current organic business with a clear mandate to be profitable,” he added.
Asad Raza Khan to lead international division
Meanwhile, the company has roped in FMCG industry veteran Asad Raza Khan to lead its international division which has been launched in a bid to open new markets for the Group’s brands. “The Good Glamm Group has earmarked ₹100 crore investment for international expansion. Over the next three months, the group’s brands will be launched in globally with top retailers in online and offline ensuring the right focus is given to each brand,” the content-to-commerce company said.
The Good Brands Co will include its DTC beauty and personal care brands portfolio, including MyGlamm, St Botanica, The Moms Co, Organic Harvest, Sirona and BabyChakra. Each brand has now appointed a Chief Business Officer who is working with the founders of the brand. “Over the next 2-3 years, as brand founders exit, the CBO will continue to lead their respective brand maintaining continuity and consistency,” it added.
The Good Media Co will comprise of the group’s digital media companies, including POPxo, ScoopWhoop, MissMalini and BabyChakra. “With over 200 million users across digital media platforms, the Good Media Go. generates over 4.5 billion impressions,” it added.
At the same time, Good Creator Co is an amalgamation of Plixxo, Winkl, Vidooly, Bulbul and MissMalini’s influencer and talent management division.
The company stated that it is in the last stage for the acquisition of social commerce company Bulbul, founded by Sachin Bhatia for an undisclosed amount. The live streaming video shopping app will be added to the Good Creator Co. technology and product stack,” it added.