Good Glamm bought a dozen brands at $1.25B valuation — lenders sold them off one by one

MyGlamm was founded in 2017 by Darpan Sanghvi as a direct-to-consumer beauty brand. In 2021 it rebranded as The Good Glamm Group and pivoted to a 'content-to-commerce' house-of-brands model, acquiring beauty, personal care and media companies including POPxo, BabyChakra, Sirona, The Moms Co, ScoopWhoop and MissMalini Entertainment. It also launched WYN Beauty, a joint venture with Serena Williams. Total funding reached $342 million.

The acquisition strategy priced brands for growth that did not materialise. Sirona, a feminine hygiene brand, was acquired for approximately Rs 450 crore; post-acquisition sales fell to an eighth of their peak. In March 2024, Good Glamm raised $30 million at a flat $1.25 billion valuation from Warburg Pincus, Prosus Ventures, Bessemer and Accel, intended to bridge a larger round. The larger round never came.

By January 2025, board representatives from Accel, Prosus and Bessemer resigned. In February, Good Glamm sold Sirona back to its founders for about Rs 150 crore — a third of the purchase price — and offloaded ScoopWhoop for Rs 18-20 crore against a Rs 100 crore acquisition cost. By June, the company could not pay salaries for two consecutive months.

In July 2025, lenders enforced their charge on individual brands. The house-of-brands was dismantled; each brand was put up for separate sale. Sanghvi pledged 25% of his future post-tax income toward outstanding employee payments and promised a restitution fund for vendors and shareholders.