Good Glamm Group
India's beauty and content group: 11 acquisitions made it a unicorn, and lenders broke it up in 2025
- Founded
- 2015
- Closed
- 2025
- Lifespan
- 10 years
- Total funding
- $342 million
- Peak valuation
- $1.2 billion
- Became a unicorn
- 2021
- Country
- India
- City
- Mumbai
- Sector
- E-commerce
- Founders
- Darpan Sanghvi
- Investors
- Warburg Pincus, Prosus, Accel, Bessemer Venture Partners, Amazon
- At its peak
- USD 1.25 billion valuation and 11 acquisitions
- Cause of closure
- Business model failed
What did it do?
Good Glamm Group grew out of MyGlamm, the beauty brand Darpan Sanghvi started in Mumbai in 2015. It moved to a house-of-brands model in 2021 and used 11 acquisitions to assemble beauty, personal care and content brands. POPxo, ScoopWhoop, Miss Malini, Sirona, Organic Harvest and The Moms Co all came under one roof. The idea was to turn the audiences of its content channels into buyers of its own products.
Why did it shut down?
According to Inc42, marketing, hiring and product development were centralised after the acquisitions; founders left, marketing budgets were cut and content traffic did not convert. A USD 30 million bridge round arrived in March 2024, but most of the money went on overseas expansion. In January 2025 an executive was appointed to oversee restructuring and lenders took control of the finances. In February 2025 Sirona, bought for INR 450 crore, went back to its founders for INR 150 crore. By July 2025 salaries had been late for months and sales were about a tenth of the 2024 financial year's level. That month lenders chose to enforce their charges brand by brand, and the group structure came to an end.
The story
MyGlamm was a beauty brand that Darpan Sanghvi started in 2015. In 2021 he imagined something bigger: a house of brands that both produced content and sold products. A USD 250 million round made the company a unicorn, and acquisitions followed, 11 companies in all.
On paper it looked good. The audience of the content sites would flow into the group's own brands. In practice marketing, hiring and product development were pulled to the centre, founders of acquired companies left and the traffic did not convert. A new beauty launch in the United States was backed while the Indian brands went short of cash.
At the start of 2025 lenders took control of the finances. Directors from Accel, Bessemer and Prosus stepped down. Sirona went back to its founders for a third of its purchase price. In July 2025 Sanghvi said the group could not stay whole and wrote: "As the founder, this is on me." He promised 25% of his future post-tax earnings towards employees' unpaid dues.
Lessons for founders
- The day you fold an acquired brand into the centre, you may lose the founder who built it. Sirona, bought for INR 450 crore and sold back for INR 150 crore, shows what integration can cost.
- Buying a content audience is not buying a sales channel. Before you acquire, measure with a small test how much of that traffic actually turns into buyers of your products.
- If you borrow to fund acquisitions, know from the start what your lenders' security is tied to. Here charges were enforced brand by brand, and the group itself disappeared.
Sources
- The Fall Of Good Glamm Group: How The House Of Brands Crumbled (Inc42, 2025-07-07)
- Good Glamm Group to be split up as lenders enforce brand-wise sale (Entrackr, 2025-07-23)
- What Triggered The Good Glamm Group's Collapse? CEO Darpan Sanghvi Opens Up (Outlook Business, 2025-08-01)
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