Recently, the brand has also topped up its Series C fundraise with a Rs 255 crore infusion led by an equity investment from the Trifecta Leaders Fund and structured financing from Trifecta Capital and Stride Ventures.
D2C beauty and personal care brand MyGlamm was founded in 2017 with the objective of establishing a beauty democracy by giving consumers the power to tell the brand what they want thus changing the entire experience of how women buy beauty products in India.
Over the years, MyGlamm has built a platform for women to share their beauty stories and wishlist and creates products driven by this insight. In August 2020, MyGlamm acquired leading women’s platform POPxo, where it began the content to commerce approach of the brand and together reaching out to 88 million women.
In August 2021, MyGlamm acquired trusted parenting platform BabyChakra and entered the mom-baby segment. Together MyGlamm, POPxo, and BabyChakra is now one of the largest content-to-commerce company in South Asia.
“MyGlamm has been a digital-first brand since its inception, however, to be truly D2C one must be present both online and offline. Our marketing and retail strategy is very simple, be where the consumer is. We leverage all tools of marketing such as influencer marketing, performance marketing, social media platforms, and more. With retail, the strategy is to expand offline presence. At present we have 15,000+ POS across 70 cities and aim to reach 35,000 POS across 100 cities in India,” states Darpan Sanghvi, Founder, and CEO, MyGlamm.
“As a D2C brand, MyGlamm understands the importance of ‘consumer’ in Direct-to-Consumer. To truly be D2C a brand must be present where the consumer is. MyGlamm uses a combination of technology, content, and social media to allow consumers to not only discover its products but also create a rich, personalized, content and tutorial fuelled post-purchase experience through its app,” he adds.
Apart from this, the brand has its own community of beauty content creators, MyGlammXO Beauty Creators.
“Every month we curate a box with products from MyGlamm for these influencers. They create content using the products sent every month. Each influencer is given a unique link that is posted in their bio. Every time someone makes a purchase using their unique code, the beauty creators earns MyGlammXO points,” he states.
Integrating Tech with the Brand
From the very beginning, MyGlamm has been actively investing in tech advancement. With the advent of COVID-19, it decided to make additional investments in the tech department.
“MyGlamm tried to change things up and offer customers what is called a ‘phygital’ experience. For the uninitiated, ‘phygital’ is a term that refers to the blend between physical and digital consumer experiences. At a time when brands are cutting back on physical retail, MyGlamm launched India’s largest beauty destination, opening at 6 times the average size of other beauty stores in India located in Mumbai. The MyGlamm beauty experiential store blurs the lines between physical and digital retail by offering consumers spaces for private, autonomous physical experiences with publicly shareable community and co-creation digital experiences. The store is designed to empower the next generation of beauty creators, makeup artists, and tastemakers to celebrate personal expression and communal creativity,” Sanghvi explains.
The store serves as a beauty lounge and offers online tech features such as Virtual Try-On, Shoppable Videos, highly customized user-specific product offers using Machine Learning algorithms, based on user’s various behavioral patterns, high-level data science for content, QR code scanning on the products bought from anywhere to get incentivized and also view makeup tutorials.
MyGlamm has also announced the formation of the Good Glamm Group. This pivotal announcement consolidates its position as a ‘Digital House of Brands’ powered by a content-to-commerce strategy.
Brands that come under the Good Glamm Group umbrella will be able to leverage a large digital audience comprising 88 million POPxo annual users, 220,000 Plixxo influencers, and Baby Chakra’s 20 million mothers’ community and 10,000 doctors network. This impressive digital reach, combined with MyGlamm’s 20,000 offline points of sale gives the Good Glamm Group an unprecedented scale, further amplified by the Group’s unparalleled expertise in DTC growth, new product development, and technology and data science.
With a senior leadership team comprising industry veterans from traditional FMCG companies like Unilever, Godrej, and L’Oreal and new age e-commerce giants like Myntra and Nykaa and led by Group Founder & CEO Darpan Sanghvi along with Co-founders Priyanka Gill and Naiyya Saggi, The Good Glamm Group is strongly positioned to be the digital FMCG Conglomerate of the Future.
The ‘Good’ in the Good Glamm Group underscores the group’s commitment to inclusive beauty and cruelty-free, vegan, and environment-friendly clean beauty products. With its content-to-commerce approach to democratizing access to beauty products and advice, the Good Glamm Group is focused on the ‘Consumer’ in Direct-to-Consumer. From make-up, skincare, haircare, personal care, and soon-to-be-launched baby-care products, the Good Glamm Group is creating a differentiated portfolio of high efficacy products made with good-for-you formulations that are best suited to solve the beauty and personal care needs of millions of consumers.
MyGlamm leveraged an innovative acquisition strategy when it acquired POPxo and Plixxo in mid-2020, successfully pioneering the content-to-commerce model through which it engaged millions of women to actively participate in the process of creating beauty products and converting content-users to product-buyers. It continues to strengthen this model and has ventured into the mom and baby segment through its recent acquisition of BabyChakra. The formation of the Good Glamm Group is a coming together of this ‘Digital House of Brands’ powered by a content-to-commerce model.
“The purpose of the Good Glamm Group is to transform the beauty journey of millions of women, through great content and innovative products from the Group’s house of brands. Under The Good Glamm Group umbrella are fast-growing brands that solve key needs in every part of a woman’s life stage, from a tween to an adult. As we have added and strengthened these brands, we have grown multifold in the last 18 months. In this journey, we have partnered with high-quality long-term investors like Trifecta Capital,” says Sanghvi.
In March 2021, MyGlamm opened its series C funding round with Rs 175 crore led by Ascent Capital, Amazon, and WIPRO Consumer. This funding marked Amazon’s first investment in an Indian beauty brand. In July 2021, MyGlamm had a top-up of Rs 355 crore thus closing series C at Rs 530 crore, the largest amount raised by any Indian beauty brand in a series.
“We are utilizing the funding to invest in product development, support data science and technology research, increase offline expansion, fund working capital requirements and expand content creation capabilities and digital reach of POPxo and Plixxo,” Sanghvi asserts.
Recently, the brand has also topped up its Series C fundraise with a Rs 255 crore infusion led by an equity investment from the Trifecta Leaders Fund and structured financing from Trifecta Capital and Stride Ventures. With this additional funding, the Good Glamm Group has earmarked a Rs 750 crore war-chest to make strategic investments in innovative beauty and personal care brands.
This year MyGlamm expanded its skincare category by launching a water technology-based Korean skincare range MyGlamm YOUTHFULL. Apart from this, MyGlamm WIPEOUT was introduced, which offers a range of personal care products.
“We expanded our portfolio this year by venturing into haircare. MyGlamm launched its first-ever haircare range; MyGlamm SUPERFOODS Onion and Moringa Hair Care. This year MyGlamm also acquired Baby Chakra and now aims to venture into the baby care category,” Sanghvi says.
MyGlamm is currently at a Rs 500 crore revenue run rate and expects to double this number in the next 6 months.
“MyGlamm along with POPxo & BabyChakra has built one of the largest Content-to-Commerce companies in South Asia. We are now leveraging this unique expertise and moat to now building the digital CPG conglomerate of the future leveraging Content-to-Commerce. The group will have a complete house of digital assets and beauty/ personal care brands that allow it to serve consumers right from when they are a Tween to Teenager to First Jobber to Marriage to Pre/ Post Natal to a Family Provider to an Empty Nester,” he concludes.