MyGlamm

MyGlamm is an online makeup brand headquartered in Mumbai, Maharashtra. Founded in October 2017, MyGlamm is part of the Good Glamm Group— South Asia's largest content-to-commerce beauty and personal care conglomerate. In 2021, Its parent company became India's first unicorn startup in the DTC beauty and personal brand industry, after securing $150 million in funding and a valuation of $1.2 billion.

History

In October 2017, MyGlamm launched cosmetic products. The following December, the company partnered with fashion designer Manish Malhotra to introduce its luxury category - Manish Malhotra Luxury Makeup by MyGlamm. In August 2020, MyGlamm acquired digital media platform POPxo and influencer marketing company Plixxo, both founded by Priyanka Gill. Shortly thereafter, the brand opened a 3000 square foot experiential store in Juhu, Mumbai, and unveiled the Manish Malhotra Luxe Artisanal Skincare range. In June 2021, actress Shraddha Kapoor. By September 2021, MyGlamm had 20,000 POS across 70 cities in India. In October 2021, MyGlamm then partnered with POPxo and launched its GENZ range - POPxo Makeup by MyGlamm. The Good Glamm Group was formed when MyGlamm, POPxo, and BabyChakra merged in October 2021.

In December 2021, Sukhleen Aneja was appointed as CEO of the Good Brands Co division of the Good Glamm Group that operates MyGlamm, The Moms Co, St Botanica, Organic Harvest, Siona and BabyChakra brands.

In December 2022, MyGlamm unveiled its new super serum face range.

Funding

In April 2016, MyGlamm raised US$6 million as part of a Series A round from French personal care retailer L'Occitane en Provence, private equity fund Tano Capital and Brand Capital. It received $15 million in the second round of funding from Tano Capital in August 2018. In 2021, the company secured $4.35 million as part of a Series B round of funding from Tano India Private Equity, L'Occitane International, Bessemer Venture Partners, Trifecta Venture Debt Fund II and the company's founder Darpan Sanghavi through Rights Issue. In June 2019, it secured raised US$14.42 million in a round led by Bessemer Venture Partners, L'Ocitane and Mankekar Family Office. As of March 2021, it was valued at US$500 million and had raised $24 million in a Series C round, led by Ascent Capital Group, Amazon and Wipro. In October 2021, the Good Glamm Group was formed when MyGlamm, POPxo, and BabyChakra merged in October 2021.

In November 2021, Good Glamm Group became a unicorn after raising $150 million at a valuation of $1.2 billion.

Business model

MyGlamm is a Direct-to-consumer business that operates on a hybrid online-offline model, generating about 75 percent of sales online and the rest offline. The company began its operation in 2015 as an on-demand beauty service through which customers could reserve a home spa or beauty and hair care service. However, in 2017, the company changed its business model by introducing its cosmetic products in the market.

Advertising

In December 2018, the company ran an advertising campaign #TestedOnSid, in which actor Siddharth Malhotra was seen endorsing MyGlamm's product. Various news outlets reported it as the first male actor to endorse a female cosmetic brand. In March 2020, a video ad was released featuring actress Sonakshi Sinha. In June 2021, actress Shraddha Kapoor

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