It’s been an eventful quarter for direct-to-consumer (D2C) makeup and skincare brand MyGlamm. Between July and September, the Mumbai-based company raised a total of Rs 610 crore ($82 million) over two tranches of a Series C raise, led by investors Accel Ventures and Trifecta Capital, respectively. It acquired parenting platform and e-commerce site BabyChakra in August 2021. And just a couple of days ago, it rechristened itself The Good Glamm Group The Good Glamm Group Yourstory IPO-eyeing MyGlamm, now Good Glamm Group, targets $250M revenue run rate Read more .
Co-founder and chief executive officer Darpan Sanghvi has his eye on a particular target—becoming a $10 billion digital consumer goods company. “We think about it from this point of view: we want to be a part of a woman’s full journey—from tween to teen, her first job, marriage, pregnancy, mother, empty-nester, and more,” he tells The Ken.
MyGlamm’s route to that coveted number is one that is increasingly popular in the Indian skincare and beauty ecosystem—the house of brands approach. A single company housing multiple brands, each of which is recognisable and successful in its own right and leveraged in a way that’s complementary to the others. Think US-based cosmetics and skincare company Estee Lauder and its portfolio of brands—like Clinique, Bobbi Brown, Mac Cosmetics, Too Faced, and more—each catering to a different segment and/or price point.
It seems to be the favoured method of expansion for Indian D2C brands. We’ve written about how personal care brands such as WOW Skin Science and Mamaearth WOW Skin Science and Mamaearth The Ken Mamaearth, WOW Skin Science, and the Indian skincare glow up Read more have both launched sister brands and companies to expand their reach within the Indian personal care market.
And if you’re an Indian D2C brand looking to get acquired, instead of expanding, then you’re in luck as well. Roll up e-commerce, or “aggregators”, as these companies are being called, are raising millions of dollars to acquire and scale digitally native brands and sellers. Modelled after the hugely profitable US-based startup Thrasio, companies such as Mensa Brands and Evenflow Mensa Brands and Evenflow The Ken Mensa, Evenflow pitch e-comm brand aggregation to rigid Indian sellers Read more offer digital hand-holding and sales know-how to up-and-coming brands.
MyGlamm’s differentiator, though, says Sanghvi, is that it falls in neither category completely.