Good Glamm Group Acquires Stake In Organic Harvest, the Personal Care D2C
Good Glamm Group has purchased a majority stake in the Organic Harvest brand and infused a new fund of INR 75 Cr in the beauty brand, leveraging the group’s massive online audience and impacting over 50,000 offline sale points in 150 cities. The beauty startup will likely use the acquired funds to drive data insights from the group’s content platforms and influencer marketing to launch new products.
The Good Glamm Group is said to have a large digital audience with 88 million POPxo annual users, 100 million ScoopWhoop users and 20 million community of mothers on BabyChakra, along with 1.5 million Good Creator Co influencers.
The Company Story
Organic Harvest was founded in 2013 by Rahul Agarwal to establish a successful personal care brand to manufacture products made from plants without using hazardous chemical fertilizers. The company is said to offer valued products to over two million customers across 10,000 pin codes in the country. The unicorn issues a statement that says the co-founders of the two startups will work closely to enhance Organic Harvest’s presence in India and abroad.
Darpan Sanghvi, CEO and Cofounder, Good Glamm Group, said, ”Rahul, the owner of Organic Harvest, has built India’s most extensive and most innovative portfolio of ECOCERT certified Organic Beauty and personal care products that incredibly leverage the Good Glamm Group’s digital reach and content assets to facilitate millions of consumers in the country to discover the fantastic Organic Harvest brand and its numerous products.”
Rahul Agarwal, CEO of Organic Harvest, equally vouches for the statement. He said, “The alliance with Good Glamm Group will inspire the Organic Harvest to achieve the impossible. The association is very excited and will prove to be an exceptional achievement for co-founders.”
The Success Story
Reportedly, The Good Glamm Group is on an acquisition spree as their association with Organic Harvest is fourth in the row since December. Before this, they have purchased shares in influencer marketing platform Winkl and video analytics startup Vidooly for an undisclosed amount. In December 2021, they even acquired media platform Miss Malini for an unknown amount.
In December last year, The Good Glamm Group, which Amazon backs, consolidated four of its acquisitions, including Plixxo, MissMalini, Winkl and Vidooly – into an influencer marketing subsidiary, Good Creator Co. Moreover, the company has announced an infusion of INR 200 Cr into its future projects.
The Good Glamm Group combines multiple brands such as MyGlamm, POPxo, BabyChakra, The Moms Co. and Sirona. Darpan Sanghvi was the man behind D2C brand MyGlamm in 2017, POPxo was founded by Priyanka Gill in 2013 and the online parenting company, BabyChakra was established in 2015 Naiyya Saggi. The three brands were amalgamated and were rebranded as the Good Glamm Group in September last year. Later in October, the group added another feather in its cap by welcoming The Moms Co to its portfolio.
Sirona, the feminine hygiene startup, has also raised INR 100 Cr in Series B funding from Good Glamm Group. LAST YEAR, the D2C unicorn raised $150 Mn in its Series D round, enhancing the overall valuation at well over $1.2 Bn. The round was led by marquee investors such as Warburg Pincus, Prosus Ventures, Amazon, etc.
A Good Time for Beauty and Personal Care Unicorns
Recently, there has been a faster movement in the Indian beauty and personal care segment for the last couple of quarters. In December 2021, Mamaearth’s parent brand, Honasa Consumer, successfully raised $52 million, led by Sequoia, taking the overall valuation at $1.5 billion. Purplle, the online beauty marketplace, raised almost $38 million in its Series D round earlier this month, putting the overall valuation at $725 million.
The above funding data showcases the strong performances by the Indian beauty and personal care startups in 2021, opening a new avenue of growth, success and profitability in the women-focused marketplace. Earlier, Mamaearth acquired Momspresso, the women-focused content platform, for undisclosed money. At the same time, SUGAR Cosmetics also raised $21 million in its Series C round in February 2021, whereas Purplle raised close to $100 million 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%.