Prosus-backed Good Glamm Group restructures its business to broaden its global reach
- ByStartupStory | July 7, 2022
The Good Glam Group, a unicorn in content-to-commerce backed by Prosus Ventures, said in a statement on July 6 that it had reorganized its operations to focus on structural efficiency. The Good Glamm Group announced that it would separate its group firms into three distinct divisions: brands, media, and creators. The Good brands, The Good media, and The Good creator will be helmed, respectively, by Sukhleen Aneja, Priyanka Gill, and Sachin Bhatia, the business announced.
According to The Good Glamm Group, the consolidation will enable the company to concentrate on structural efficiencies and also foster “cross-division revenue synergies.” According to the corporation, the consolidation is a step toward integrating its 11 acquisitions. ScoopWhoop, Miss Malini, and The Moms Co are just a handful of the brands that The Good Glamm Group bought last year in the content and creator arena.
According to Darpan Sanghvi, group founder and CEO, “a part of our efforts to develop a consolidated Group Structure, which offers not only for structural and cost efficiency but also significantly increased revenue synergy prospects.” We have set an aggressive revenue run rate objective of $400 million by March 2023 for the present organic business with a clear mandate to be profitable, said Sanghvi. “With the majority of the Series D fundraising funds remaining in the bank.”
According to the company, The Good Glamm Group will also establish an international business division with an investment of Rs 100 crore in order to expand its operations to the Middle East and Southeast Asia regions, with a target of $150 million in international revenue for the Group’s brands over the following three years. According to the company, a number of the Group’s brands will be introduced in foreign markets over the following three months with the help of leading online and offline merchants who will make sure that each brand receives the proper worldwide attention.
According to The Good Glamm Group, Asad Raza Khan, who has been appointed as the organization’s global commercial officer, will serve as the head of the international division. Khan has worked for Procter & Gamble for more than 17 years. He has lived and worked in London, Geneva, Dubai, and a few South Asian nations.
The group’s moat of content creators, retailers, and online and offline development are all leveraged by the international business, according to Khan, giving Good Brands Co. a potential for global growth. By utilising the growth and digital marketing capabilities of the group currently in place, Khan continued, “We hope to build our brands across offline channels, e-marketplaces, and DTC.”
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