The Good Glamm Group, which recently became the second direct-to-consumer brand to enter the prestigious unicorn club, has acquired MissMalini Entertainment, one of the country’s largest celebrity media and influencer talent management network, for an undisclosed amount.
The transaction will provide Good Glamm Group, the parent entity of MyGlamm, access to a robust network of influencers, celebrities and market know-how strongly enhancing its unique content-to-commerce play in the country, the company said in a statement on Monday. Post the accquisiton, the company will be operated as an independent entity.
“We have admired MissMalini over the years. They were the first movers in the Influencer space, are the leading digital voice on Bollywood and the Girl Tribe is turning into a highly engaged and relevant community. We see all these elements and expertise as highly valuable pieces in the ambitious Content to Commerce disruption we are creating in India,” Darpan Sanghvi, CEO at Good Glamm Group, said, explaining the rationale for the acquisition.
MissMalini’s 5 business divisions- MissMalini Media (multi-format original content and marketing), Girl Tribe by MissMalini (women’s community platform), Ignite Edge (celebrity & talent management), Agent M Creative (Creative Agency) and MM Studios (video production house)- will be closely working with Sanghvi-led group now onwards. These digital assets are said to be reaching to over 60 million people a month.
“Becoming part of Good Glamm Group will be hugely beneficial for both parties, whether in terms of our massive, combined industry footprint or opening new avenues for growth in this digital first world,” Malini Agarwal, founder at MissMalini, said.
MyGlamm was founded in 2017 by Sanghvi and Priyanka 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 direct-to-consumer (D2C) beauty products brand MyGlamm, unveiled The Good Glamm Group in September 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.
Last month, the group bought cosmetics ventures St.Botanica and Oriental Botanics. In October, the company acquired digital media and lifestyle content platform Kalaari Capital-backed ScoopWhoop Media Pvt Ltd. It also bought baby-care products startup The Moms Co for an undisclosed sum the very same month.
Besides MyGlamm (cosmetics brand) and these acquired assets, the company also owns POPxo (cosmetics brand for tweens) and Baby Chakra (baby products brand).
The Good Glamm Group is particularly bullish on haircare, particularly hair colour, as it feels that e-commerce penetration in hiarcare is less than 3.8% despite the broader category touted at $3 billion. Sanghvi is equally optimistic that The Good Glamm’s content to ecommerce moat and superior products can also be helpful to get deeper in skincare as well. The company is targeting to go public by Diwali 2023.
