Good Glamm Group to be split up

The Good Glamm Group, a content-to-commerce conglomerate, will no longer operate as a unified unit and will sell its brands one by one, CEO Darpan Sanghvi wrote on LinkedIn. He said the lenders have decided to enforce their charge on individual brands.

“…The brands will be sold one by one, and will operate individually… there will be new individual owners for each of the different brands.”

Founded in September 2021, the group has owned several brands. Some of the major ones include MyGlamm, The Moms Co, Sirona, Organic Harvest, St Botanica, Wyn Beauty, BabyChakra, and POPxo.

Sanghvi also gave a personal commitment to his employees about unpaid dues.
“… Moving forward, 25% of what I earn (post-tax) from salary or gains from equity in any venture, will go toward making your whole. However long it takes, I will keep working till everyone is taken care of.”

This will only happen if the lenders are unable to complete a sale of the different brands and if the new owners are not able to clear any portion of employee dues.

To the vendors, he assured them of his support and said he would tirelessly work with incoming buyers and new owners of the different brands to resolve outstanding payments and restore the business relationships vendors and the brands shared.

Sanghvi also wrote about the creation of the Good Glamm Restitution Fund over the next sixty days, which will receive equity allocation from whatever he does next.

According to The Economic Times, “Amid the funding boom of 2021, Good Glamm, like many roll-up ecommerce startups, undertook an aggressive acquisition spree, often overpaying for brands that struggled to scale. While the deals aimed to build a content-to-commerce model, they placed a significant strain on the company’s finances as growth fell short of expectations.”