Digital beauty giant Good Glamm Group is heading for a brand-wise sell off. In an emotional note, Founder Darpan Sanghvi announced that the once high-flying digital FMCG conglomerate is set to be dismantled.
The company had been undergoing restructuring over the past few months. However, lenders have now chosen to enforce their charge on individual brands within the group, prompting a brand-wise sell-off. As a result, each brand will be sold separately and transition to new ownership.
“Over the past few months, we explored every possible path to keep the Good Glamm Group together as the way we had envisioned, a digital FMCG conglomerate with multiple brands under one umbrella. We explored refinancing, partial brand sales, strategic investments and more. We left no stone unturned. But when you operate in a complex structure with multiple stakeholders, and time as your enemy, sometimes it just does not come together,” Sanghvi write on LinkedIn.
In a move rarely seen in Indian startup circles, Sanghvi has made a personal financial commitment to the company’s employees. He stated that if dues are not cleared through brand sales or the incoming buyers, he will contribute 25% of his post-tax income from future ventures—salary or equity gains—toward settling employee dues. “However long it takes, I will keep working till everyone is taken care of,” he wrote.
He also assured vendors and partners that he will work closely with incoming buyers to resolve outstanding payments and help restore business relationships with each of the brands.
A Cautionary Tale
The Good Glamm Group was once heralded as a pioneer in building a content-to-commerce ecosystem. The company brought together several beauty and personal care brands like MyGlamm, POPxo, St Botanica, The Moms Co., Organic Harvest, and BabyChakra under one umbrella. Its ambitious digital-first strategy had also attracted significant investor attention and media buzz in recent years.
Founded in 2017 as MyGlamm and rebranded to Good Glamm Group in 2021 after acquiring POPxo and BabyChakra. The conglomerate raised over $340 million and reached a peak valuation of around $1.2 billion. However, aggressive acquisitions and rapid expansion—without sustainable earnings—led to massive cash burn, ballooning losses, and strained liquidity.
In recent months, the group offloaded Sirona back to original founders at a steep markdown (~₹150 crore vs ₹450 crore paid), and sold ScoopWhoop and MissMalini at fractions of prior valuations.
