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News on Medial
Good Glamm receives legal notice from subsidiary Sirona’s investors
The Arc Web
·
1y ago
Medial
Investor Indian Angel Network (IAN) has sent a notice of default to The Good Glamm Group, alleging that the company has failed to make its final payment obligations to the shareholders of women's hygiene brand Sirona. The Good Glamm Group acquired a majority stake in Sirona for Rs 100 crore in December 2021 but has not made the required payments to Sirona's shareholders, including employees. This development comes as The Good Glamm Group reportedly has payment dues of around Rs 150 crore across its acquisitions. The company is said to be in talks to restructure its payout terms into debt.
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Good Glamm Group completes buyout of feminine hygiene brand Sirona for Rs 450 crore
Economic Times
·
10m ago
Medial
- Good Glamm Group has acquired feminine hygiene brand Sirona for Rs 450 crore in an all-cash deal. - Earlier this year, there were legal disputes between the founders and investors of Sirona and Good Glamm Group, but they have now been resolved with a new agreement being signed and all pending payments settled. - Good Glamm currently owns a majority stake in Sirona and will hold 100% stake by the end of the fiscal year. - Sirona specializes in menstrual hygiene products and offers a range of innovative products such as herbal pain relief patches, biodegradable sanitary pads, and menstrual cup kits. - Sirona's acquisition adds to Good Glamm Group's expanding portfolio of brands, including MyGlamm, The Moms Co, Organic Harvest, St Botanica, Baby Chakra, and digital media and content platforms. - Good Glamm recently raised Rs 245 crore through a rights issue and used internal capital and proceeds from the funding round for the Sirona acquisition.
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Accel, Prosus, Bessemer directors quit Good Glamm board amid cash crunch
Economic Times
·
6m ago
Medial
Representatives from Accel, Prosus Ventures, and Bessemer Venture Partners resigned from Good Glamm Group's board amid financial struggles. Anand Daniel, Vishal Gupta, and Gaurav Kothari left as independent directors, coinciding with the company's financial challenges, including delayed salaries and layoffs. Previously, Good Glamm raised $30 million for working capital but is now exploring strategic investment and divesting brands. The firm resolved legal disputes related to acquisitions and experienced multiple leadership exits recently.
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Good Glamm Group dials existing investors, new funds for Series E funding
VCCircle
·
1y ago
Medial
Good Glamm Group, the direct-to-consumer beauty and personal care conglomerate, is seeking to raise funds for its Series E round. The company plans to utilize the funds as growth capital. Good Glamm Group, valued at $1.2 billion in November 2021, aims to secure investments from both existing and new investors.
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Sirona founders, IAN withdraw default notices against Good Glamm Group
Livemint
·
9m ago
Medial
- Good Glamm Group has completed the acquisition of women's wellness brand Sirona Hygiene for ₹450 crore ($60 million) in an all-cash deal. - Founders of Sirona Hygiene and investor IAN previously filed default notices against Good Glamm Group for non-payment of dues, but the notices have now been withdrawn after an agreement was reached for pending payments. - Good Glamm Group invested ₹100 crore in Sirona in 2022 and is said to have earned substantial returns for early investors. - Sirona has tripled its revenues in the past 24 months and recently acquired the direct-to-consumer brand Impower. - Good Glamm Group operates across multiple verticals and is backed by investors such as Warburg Pincus, Prosus Ventures, and Amazon.
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Good Glamm defers April salaries; former employees await final settlements
Economic Times
·
3m ago
Medial
Good Glamm Group has delayed April salaries and is yet to settle dues for former employees due to a cash crunch as fundraising is pending. The Mumbai-based company has been selling or exploring the sale of various brands to maintain liquidity. This includes selling MissMalini Entertainment and digital media subsidiary ScoopWhoop. Formed in 2021, the company has seen multiple senior-level exits recently and last raised $30 million from existing investors.
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Good Glamm bets on US make-up brand with Serena Williams
The Arc Web
·
1y ago
Medial
The Good Glamm Group has partnered with Serena Williams to launch a new make-up line called Wyn Beauty in the US. The affordable beauty products will be available exclusively in Ulta Beauty stores. Good Glamm expects Wyn to contribute 25-35% to its sales in the next fiscal year. The success of Wyn could also pave the way for expansion of other brands in Good Glamm's portfolio. The company is eyeing an IPO and has recently raised $30 million from existing investors.
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The mystery of Good Glamm’s global gambit
Livemint
·
1y ago
Medial
Indian content-to-commerce company, Good Glamm Group, is facing challenges as it expands overseas and prepares for an IPO. The company recently launched its Wyn Beauty range in US stores, aiming to compete with celebrity-backed brands like Fenty Beauty and Kylie Cosmetics. However, several investors and founders of companies acquired by Good Glamm have filed default notices due to unpaid dues. The company has also undergone restructuring and cost-cutting measures, including letting go of over 120 employees. Good Glamm aims to achieve profitability in the next two quarters and hopes international expansion will contribute to revenue growth.
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WLDD in talks to acquire ScoopWhoop from The Good Glamm Group
Entrackr
·
5m ago
Medial
Marketing company Wubba Lubba Dub Dub (WLDD) is in talks to acquire the digital media platform ScoopWhoop from The Good Glamm Group (GGG). Livemint, which first reported the development, stated that WLDD has issued a term sheet, and due diligence is currently in progress. The report also mentioned that The Good Glamm Group is planning to sell ScoopWhoop for Rs 18-20 crore. It’s worth noting that ScoopWhoop was acquired by The Good Glamm Group in a deal worth around Rs 100 crore in October 2021. The Good Glamm Group declined to comment on the story. Last week, Sirona repurchased its brand from The Good Glamm Group to operate independently. According to sources, the buyback occurred at a significantly lower price than the original acquisition deal. The Darpan Sanghvi-led company may allocate proceeds from selling its digital media vertical to cover salaries, vendor payouts, and other payment obligations. Over the past year, Good Glamm has struggled financially, experiencing salary delays and layoffs. Media reports indicate that the group is now negotiating a funding round at a substantially lower valuation. The Delhi-based firm became a unicorn in 2021 with a $250 million funding round. Since then, it has raised $30 million in a bridge round in March last year. Last month, The Good Glamm Group witnessed the exit of key representatives, including Anand Daniel (Accel Partners), Vishal Gupta (Bessemer), and Gaurav Kothari (Prosus Ventures), who resigned as independent directors. In January 2024, Priyanka Gill, co-founder of The Good Glamm Group, also decided to step down from her active role at the New Delhi-based company.
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Sirona founders near deal to buy back brand from Good Glamm
Inshorts
·
5m ago
Medial
Sirona Hygiene founders Deep Bajaj and Mohit Bajaj are in the final stages of repurchasing the women's wellness brand from the Good Glamm Group. The move comes just months after Sirona was sold to Good Glamm. Under the buyback agreement, the Sirona founders will assume debt liabilities of ₹160-180 crore.
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Good Glamm’s Priyanka Gill set to exit
Livemint
·
1y ago
Medial
Priyanka Gill, co-founder of Good Glamm Group, is leaving the Prosus-backed company to join venture capital firm Kalaari Capital. Gill, who founded PopXo, will lead Kalaari Capital's CXXO initiative that invests in women-led businesses. Good Glamm, a direct-to-consumer company, acquired PopXo in 2020. Good Glamm's media business, Good Media Co., has been affected by post-Covid disruptions. Gill will become the chairperson of Good Media Co. and will retain her stake in the parent company. Good Glamm is in talks to raise a ₹500 crore funding round.
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