09
November
2021
|
16:23
Europe/Amsterdam

Good Glamm Group raises $150 million in Series D round co-led by Warburg Pincus & Prosus

New York, NY November 10th, 2021: The Good Glamm Group, South Asia’s largest content-to-commerce conglomerate has raised $150 million funding in its Series D round, including both primary and secondary sales, co-led by marquee tech and private equity investors Prosus Ventures, Warburg Pincus along with the participation from Alteria Capital and existing investors L’Occitane, Bessemer Venture Partners, Amazon, Ascent Capital and the Mankekar Family Office. The Good Glamm Group comprises a portfolio of proprietary beauty & personal care brands that are powered by a proprietary digital ecosystem of content, community, and creator assets

Beauty & personal care brands owned by the Good Glamm Group include MyGlamm (India’s fastest-growing cosmetics brand), MomsCo (India’s leading premium mom and baby brand), POPxo (India’s first tween cosmetics brand), and Baby Chakra (India’s first baby products brand co-created with mothers). These brands leverage Good Glamm Group’s proprietary digital assets, which comprise of POPxo (India’s largest female content platform with 88 million users), ScoopWhoop (India’s largest male content platform with 100 million users), BabyChakra (India’s leading parenting platform with 20 million mothers and a network of 10,000 doctors) and Plixxo (India’s leading creator and influencer management platform with 220,000 influencers onboarded). 

This unparalleled digital reach, combined with 30,000+ offline retail points of sale of the Group’s flagship beauty brand, MyGlamm, gives each brand under the Good Glamm Group umbrella an unprecedented opportunity to scale both online and offline. This opportunity is further amplified by the Group’s deep expertise in DTC growth, new product development, and technology and data science. These combined assets are attracting India’s leading, innovative, and fast-growing beauty and personal care brands. To date, Good Glamm Group has made acquisitions and investments worth $270 million.

The Good Glamm Group will utilise its latest funding to invest in product development, support data science and technology research, increase offline expansion, and fund working capital requirements while also expanding the content creation capabilities and digital reach of POPxo, Plixxo, BabyChakra, and ScoopWhoop. The Group will also continue to make investments in top beauty and personal care brands. 

“Entering the Unicorn Club marks Day one for all of us at the Good Glamm Group. And we couldn’t be more excited and privileged to embark on the journey from 1 to 10, with Prosus Ventures and Warburg, who bring incredible strength and experience to our company.”  

—Darpan Sanghvi, Group Founder & CEO, Good Glamm Group.

“Being part of Good Glamm Group is a dream opportunity and a privilege as we become India’s largest DTC beauty and personal care company. Now with Prosus Ventures and Warburg Pincus as our investors and partners, we are perfectly positioned to scale even faster and fulfill our mission.”

­—Priyanka Gill, Co-Founder, Good Glamm Group.

The consumer’s needs are at the heart of all the work we do at the Good Glamm Group, and it is a privilege to build with Prosus and Warburg who are strong, mission-aligned partners. This partnership demonstrates conviction in the Good Glamm Group's vision to bring under one roof, trusted brands, passionate founders & teams driven to ensure the best care across our consumers lifecycle. It is a milestone for the entire group and inspires us to double down and work even harder.

—Naiyya Saggi, Co-Founder, Good Glamm Group.

“We are delighted to back Darpan and the entire team at the Good Glam Group. With a strong portfolio of D2C brands and proprietary content assets, the group is well-positioned to scale rapidly and create a large digital-first business in the beauty and personal care space,” says Vishal Mahadevia, Managing Director and India Head at Warburg Pincus 

Ashutosh Sharma, Head of Investments, India, Prosus Ventures, said, “We are very excited to partner with the Good Glamm Group to disrupt the beauty and personal care industry and this marks our first investment in the DTC category. The Good Glamm team has paired desirable, homegrown brands with compelling content, building an incredibly engaged community and positioning them well for future growth in India and beyond.”

 The ‘Good’ in Good Glamm Group underscores the company’s commitment to inclusive beauty and cruelty-free, vegan, clean, and environmentally friendly beauty products. With its content-to-commerce approach to democratising 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 hygiene to baby-care products, the Good Glamm Group brands create a differentiated portfolio of high efficacy products made with good-for-you formulations that solve the beauty and personal care needs of millions of consumers. Inspired by this ‘Good in the Group 'approach, Bollywood actor Shraddha Kapoor, who has an Instagram following of over 67 million fans, invested in the Good Glamm Group and serves as the brand ambassador for MyGlamm beauty products.

About Good Glamm Group:

Established in September 2021, Good Glamm Group is South Asia’s largest Content to Commerce conglomerate. With a vision to become the ‘Global Digital-first FMCG Conglomerate of the Future,’ the Good Glamm Group brings together brands that millions of users love. Brands that come under the Good Glamm Group umbrella will be able to leverage a large digital audience comprising the Group’s 3.5 billion monthly impressions, 88 million POPxo users, 100 million ScoopWhoop users, BabyChakra’s 20 million mothers’ community with over a 10,000 doctors network, and 220,000 Plixxo Influencers. This impressive digital reach when combined with MyGlamm’s 30,000 offline points of sale give the Brands under the Good Glamm Group an unprecedented scale, further amplified by the group’s unparalleled expertise in DTC growth, new product development and technology & data science. The ‘Good’ in Good Glamm Group underscores the group’s commitment to inclusive beauty and cruelty-free, vegan, clean, and environmentally friendly beauty products. Brands associated with Good Glamm Group are MyGlamm, POPxo, Plixxo, BabyChakra, The Moms Co and ScoopWhoop. The Good Glamm Group is backed by L’Occitane, Bessemer Venture Partners, Accel, Prosus, Warburg, Amazon, Ascent Capital, the Mankekar Family Office, Trifecta Capital, Tano Capital, Wipro Consumer and Shraddha Kapoor.

For more information, please visit https://goodglamm.com/ 

About Warburg Pincus:

Warburg Pincus LLC is a leading global growth investor. The firm has more than $67 billion in private equity assets under management. The firm’s active portfolio of more than 215 companies is highly diversified by stage, sector, and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 20 private equity funds, which have invested more than $97 billion in over 960 companies in more than 40 countries. The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore.

For more information, please visit www.warburgpincus.com.

Press Contact:

Bryn Kenny
MBA Partners LLC
[email protected]
212-226-1310

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About Prosus:

Prosus is a global consumer internet group and one of the largest technology investors in the world. Operating and investing globally in markets with long-term growth potential, Prosus builds leading consumer internet companies that empower people and enrich communities.

The group is focused on building meaningful businesses in the online classifieds, food delivery, payments and fintech, and education technology sectors in markets including India, Russia, and Brazil. Through its ventures team, Prosus invests in areas including health, logistics, blockchain, and social commerce. Prosus actively seeks new opportunities to partner with exceptional entrepreneurs who are using technology to improve people’s everyday lives.

Every day, billions of people use the products and services of companies that Prosus has invested in, acquired or built, including 99minutos, Aruna, AutoTrader, Autovit.ro, Avito, Bibit, Biome Makers, Borneo, Brainly, BUX, BYJU'S, Bykea, Codecademy, Collective Benefits, Creditas, DappRadar, DeHaat, Domofond.ru, dott, ElasticRun, eMAG, Eruditus, Flink, Good Glamm Group, GoodHabitz, Honor, iFood, Imovirtual, Klar, Kovi, LazyPay, letgo, Luno, Meesho, Movile, Oda, OLX, Otodom, OTOMOTO, PaySense, PayU, Pharmeasy, Properati, Property24, Quick Ride, Red Dot Payment, Republic, Shipper, ShopUp, SoloLearn, Stack Overflow, Standvirtual, Swiggy, Ula, Urban Company, and Wolt.

Hundreds of millions of people have made the platforms of Prosus’s associates a part of their daily lives. For listed companies where we have an interest, please see: Tencent, DeliveryHero, Remitly, Mail.ru, Trip.com, Udemy, Skillsoft, Sinch and SimilarWeb.

Today, Prosus companies and associates help improve the lives of more than two billion people around the world.

Prosus has a primary listing on Euronext Amsterdam (AEX:PRX) and secondary listings on the Johannesburg Stock Exchange (XJSE:PRX) and a2X Markets (PRX.AJ). Prosus is majority-owned by Naspers.

For more information, please visit www.prosus.com.

About Prosus

Prosus is a global consumer internet group and one of the largest technology investors in the world. Operating and investing globally in markets with long-term growth potential, Prosus builds leading consumer internet companies that empower people and enrich communities.

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