[Podcast] Future of beauty and personal care: MyGlamm tracking the evolution of the category in India
I’ve heard the word ‘MyGlamm’ quite often in the last year, not least of all because my wife and two girls are constantly poring over the site, checking out all their products.
From lipsticks to hair care to bath and body — there’s little to nothing that an average shopper cannot find that covers all beauty and personal care needs. And what’s more, shoppers can browse through multiple brands within the same unified platform.
In this episode of the Accel podcast, Darpan Sanghvi, CEO and Co-founder of MyGlamm — India’s fastest growing direct-to-consumer (D2C) beauty brand — talks about MyGlamm’s journey, building a scalable beauty company using technology, and the challenges and opportunities in the Indian market.
We also discussed how MyGlamm tackled the COVID-19 crisis, leveraged social media, created a data engine, and more — all while keeping an eye on the offline sales game. And that’s only the tip of the iceberg.
MyGlamm is one of Accel’s more recent investments in the beauty and personal care (BPC) segment, which has seen tremendous success with its house of brands model and D2C business approach.
It was enervating to hear Darpan’s unique take on the growing BPC market from an entrepreneurial perspective, along with Prashanth Prakash’s — a Senior Partner at Accel — keen and experienced insights into the burgeoning business.
“The old doesn’t need to make way for the new. In this world of BPC, the new and the old will converge to see who can leverage what, Prashanth says about the changing fabric of the Indian and global market.
Darpan talks us through the multiple sub-categories launched within the umbrella brand, and why this led to a better and more seamless and accelerated customer experience.
Like both Prashanth and Darpan concurred, it is very interesting to see where this segment is headed, and we are hopeful of seeing Indian products and brands make an entry into the global arena soon.
As you join us in this conversation, you will learn more.
0:00 - 6:25: Introductions and beginnings. Darpan isn’t your average CEO, and MyGlamm wasn’t born without some serious on-ground work that began with a keen interest in brands and a never-say-never attitude.
6:30 - 10:51: Prashanth’s thoughts on the brand space with specific insight into BPC and what is unique about the sector.
10:53 - 20:45: How Darpan navigated this space from an entrepreneur point of view. How did Darpan decide what product to launch with?
20:50 - 24:00: Prashanth gives us the investor perspective.
24:03 - 27:51: What are the challenges and advantages startups face in this segment when they come up against the goliath brands, which have been around for longer.
27:52 - 30:40: Darpan tells us how he learnt from the foundations of the business, and how the challenges in the BPC space are opportunities in disguise.
30:35 - 31:45: Prashanth on how brands and businesses have to look to survive. How they must leverage the offline muscle they built to stay relevant in digital times.
31:5o - 34:47: Does Darpan believe in the offline sales concept? How does it apply to his D2C brand and platform?
34:50 - 39:20: The impact that COVID-19 has had on this industry and the surprises that came along with it.
39:22 - 46:55: Internet penetration in India has been far more successful and higher than the BPC penetration. What does this mean for aspiring companies in this space?
47:00 - 55:34 - What does the future hold for BPC brands and the broader D2C segment. Our experts have predictions, aspirations, and hope for the future.
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(Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the views of YourStory.)