Integrating multiple acquisitions successful but had challenges: Good Glamm's Darpan Sanghvi
The content-to-commerce ‘house of brands’ is eyeing a public listing by 2024 and is currently focused on strengthening its operational metrics.
Good Glamm Group, a pioneer of the ‘house of brands’ model in the direct-to-consumer (D2C) space, acquired over 10 brands between August 2021 and March 2022. This strategy, however, has thrown up the challenge of seamless integration, according to Darpan Sanghvi, Founder and CEO of .
“The integration is a challenge that we have learnt to power through with time,” said Darpan, speaking at the 13th edition of TechSparks, YourStory's flagship startup-tech summit. It also poses the risk of the group losing the core focus—creating one large brand with consumer-focused and complementary businesses.
The house of brands strategy refers to the practice of acquiring multiple companies across sectors and bringing them together under one parent.
Over the last year, The Good Glamm Group has acquired several companies, including feminine hygiene brand Sirona, mom-and-baby platform BabyChakra, digital media platform ScoopWhoop, personal care brand St Botanica, and celebrity talent management platform MissMalini Entertainment.
It has consolidated its business under three verticals—Good Brands led by Sukhleen Aneja, Good Media led by Priyanka Gill, and Good Creator led by Sachin Bhatia.
“When we acquired PopXO, and Priyanka and I came together, content commerce worked. We wanted to make it the largest content platform. That’s when BabyChakra and ScoopWhoop happened. We decided it was time to go build the largest influencer platform in India and that’s exactly what we have done,” Darpan added.
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He noted that companies implementing this model must be mindful of the end goal while ensuring that each business offers value to other companies. For Good Glamm Group, it was “innocent optimism” that helped it maintain a synergy between different companies under one roof and change the way the beauty business operates in India.
While Good Glamm Group competes with , , and FMCG conglomerate Procter and Gamble (P&G), it is keeping a keen eye on the former.
Nykaa continues to inspire Good Glamm Group’s team, Darpan reveals, especially when it comes to convincing consumers that beauty products can be sold online. The group also envisions a public listing by the end of 2024, and is currently focused on achieving strong operating metrics over the next two years.
Meanwhile, the company is also doubling down on its offline expansion, alongside redirecting focus on the men's grooming and grocery segments.
“In India there are no brands which do Rs 10,000 crore. It needs multiple brands across verticals. That’s what we did,” Darpan said.
Edited by Kanishk Singh