Glam Studios raises Rs 2cr seed round, aims to become the Oyo of the beauty industryJai Vardhan
Delhi-based Glam Studios, a managed marketplace for salons, has raised a Rs 2 crore angel round from Pradeep Mirani and existing investors, including Aqeel Ahmed, Anand Ladsariya, and Nitin Agarwal. The proceeds will be deployed in expansion, operations and technology.
Launched in October 2015, the company had received an undisclosed amount of seed funding in January this year. Glam Studios undertakes independent salons and brings them under its brand name. So far, the company has about 40 salons across Delhi NCR. The round was organised by I Plan Wealth Management.
The company claims to bring to consumers salons that offer premium beauty services at pocket friendly prices, along with a consistent customer experience.
The company brings about a two-fold standardisation in the operational processes of salons that signup – firstly, infrastructural and aesthetic changes to the property to brand them as Glam Studios as well as the training of staff, and secondly, the offering of its CRM software to fully automate the operations and quality-of-services rendered.
Commenting on the funding, Sadiya Naseem, Founder and CEO of Glam Studios, said, “Receiving funding from some of the most astute investors in the country vindicates our business strategy and boosts our confidence.”
Glam Studios claims to have 6,000 clients and to have sold 1,000 yearly memberships in the first six months of operations. Sadiya added,
We have received an incredibly encouraging response both from customers and salon owners, and plan to have more than 500 salons on the tech-backed platform by the end of this financial year.
The industry faces challenges in getting standard skilled manpower, and lacks a standard operating process. Glam Studios is trying to standardise existing salons through technology and better branding. In fact, the venture is trying to become the Oyo of the beauty industry. The company doesn’t have any direct competitor, but its indirect competitors include Naturals, VLCC and other salon chains.