The Good Glamm Group, a content-to-commerce conglomerate, has acquired a majority stake in beauty and personal care brand Organic Harvest, for an undisclosed amount.
Good Glamm will invest an additional Rs 75 crore in growing the brand. The transaction marks the foray of Good Glamm Group in the organic BPC category, it said.
"Organic Harvest has predominantly been an offline first brand. Now, as part of the Good Glamm Group, Organic Harvest will be able to leverage the group's large digital audience," Darpan Sanghvi, Good Glamm Group founder and CEO said.
Started in 2013 by Rahul Agarwal, Organic Harvest will continue to work as an independent entity post acquisition.
Organic Harvest will have access to data-driven insights from the group's content platforms into what consumers are looking for along with a strategic approach towards influencer marketing with Good Creator Co's full stack of influencer marketing services and solutions to create meaningful campaigns with measurable return on investment (ROI), it said.
The company said these campaigns will be integrated into Organic Harvest's product development engine to accelerate the creation, launch and marketing of products across the skin and personal care.
"Organic Harvest has over 700 employees. Yes, all of them have been absorbed in the company. The Good Glamm Group-Organic Harvest partnership came about on a shared vision to leverage content-to-commerce to exponentially grow the organic BPC (beauty and personal care) category,” Rahul Agarwal, Organic Harvest CEO said.
He added that Organic Harvest has a current revenue run rate of Rs 75 crore and is targeting a revenue run rate of Rs 250 crore by March 2023.
Agarwal will work closely with Darpan Sanghvi, Priyanka Gill and Naiyya Saggi, co-founders of Good Glamm Group, along with Sukhleen Aneja (CEO Beauty and FMCG Brands at Good Glamm Group) to accelerate Organic Harvest's presence in India and globally.
Good Glamm Group is on a buying spree in continuation with its approach to acquiring innovative and fast-growing beauty brands in important categories of BPC, and powering them by a content-to-commerce strategy.
Earlier this month, The Good Glamm Group acquired influencer marketing platform Winkl and content and creator analytics startup Vidooly to its broader beauty and personal care portfolio. The Group, which recently became a unicorn or a startup valued at over $1 billion, also unveiled a separate platform named The Good Creator Co. (GCC), under which it has consolidated all its existing and acquired businesses focused on content creation and influencers marketing categories. In December, the Good Glamm Group had acquired Miss Malini.
MyGlamm was founded in 2017 by Darpan Sanghvi and Gill. The company claims to be India’s fastest-growing D2C beauty brand, with a range of over 800 cruelty-free and vegan products across categories such as makeup, skincare, and personal care. It also has over 30,000 offline points of sale across 70 cities of India.
Sanghvi Beauty and Technologies, which operates brand MyGlamm, unveiled The Good Glamm Group in September last year under which it has consolidated its various businesses in a bid to strengthen its position as a ‘digital house of brands’ powered by a content-to-commerce strategy.
Among its other purchases last year include St. Botanica and Oriental Botanics; ScoopWhoop Media Pvt Ltd, a digital media and lifestyle content platform backed by Kalaari Capital; baby-care goods firm The Moms Co; a tweens' focused cosmetics brand POPxo and Baby Chakra.