MyGlamm, a Direct-to-Consumer (D2C) cosmetics brand, has announced the making of a parent brand, ‘The Good Glamm Group’, to make a digital house of brands in the personal care and beauty segment.
Under, this new brand, it plans to acquire 4-6 businesses in the next 3-6months, amounting to a cost of $100 million. The capital will be put into the investments by 2022. To raise money for these acquisitions, the parent company has raised $34.5 million.
Each of the acquired companies will continue to work as individual brands and the parent company will get access to a new customer profile. The acquisition of BabyChakra gave a reach to 20 million moms and POPxo added 88 million users. MyGlamm’s 20,000 point of sales offline, will increase to 30,000 by December 2021. In addition, the brands will have access to all the user database that Good Glamm Group acquires in the future.
