Good Glamm Group’s Brands Halt Operations

SUMMARY

Websites of brands such as My Glamm, The Mom’s Co, St Botanica, Organic Harvest, POPxo, vidooly, Good Creator Co and Baby Chakra remained unresponsive

Until the buyers come in, there are no operations, a source told Inc42

So far, Sirona, ScoopWhoop and MissMalini Entertainment have been sold

Over a week after The Good Glamm Group’s founder and chief executive Darpan Sanghvi announced that the lenders have decided to sell the company’s portfolio brands individually, websites of the brands it owns seem to have become non-operational at the moment.

When checked by Inc42, websites of The Good Glamm Group’s operated brands, including My Glamm, The Mom’s Co, St Botanica, Organic Harvest, POPxo, vidooly, Good Creator Co and Baby Chakra remained unresponsive.

Sources familiar with the matter told Inc42, “The Good Glamm Group ceased to exist as lenders were enforcing their charge on the brands and finding buyers. Until the buyers come in, there will be no operations.”

Confirming former KPMG professional Arjun Vaidyanathan’s appointment, one of the sources added that the lenders are working collectively and have roped him in to oversee the entire process.

In February, Sirona cofounders Deep Bajaj and Mohit Bajaj bought back the feminine hygiene brand from The Good Glamm Group and digital media unit ScoopWhoop was sold to marketing firm Wubba Lubba Dub Dub (WLDD).

Following that, media and influencer talent management network MissMalini Entertainment was sold to marketing agency Creativefuel in April.

Back then, Sanghvi said that this is the last resort left for the startup after exploring a host of solutions like refinancing, partial brand sales and strategic investments, among others.

Based on the founder’s post from the previous week, the rough timeline for the sale would be 60 days. During this time, he said he would set up a new “Good Glam Restitution Fund” to clear the dues, if any remaining, of employees, vendors/partners and for “losses incurred by our shareholders”.

Hurt by mounting losses, the troubled unicorn is said to have shut down its office in New Delhi’s Vasant Kunj, and it has delayed employee salaries thrice since the start of this year.

The Good Glamm Group saw its consolidated net loss zoom over 153% to INR 917 Cr in FY23 from INR 363 Cr in the previous fiscal year. Revenue from operations jumped 185% to INR 603 Cr during the year under review from INR 211 Cr in FY22. The company is yet to file its financial statements for FY24.