Good Glamm Group prioritising profitability ahead of IPO in 2 years: Co-founder Priyanka Gill
The company has been growing at over 250% year-on-year on a CAGR basis over the past years. As much as 70% of revenue currently comes from online sales and the balance from offline sales, she informed.
is prioritising profitability in the run up to an IPO in two years' time, Priyanka Gill, Group Co-founder, said, adding that the content-to-commerce player is tapping new revenue streams and optimising costs as it rides on omni-channel strategy and digital velocity to maintain strong growth rates.
Gill told PTI in an interview that the Good Glamm Group is bullish about the demand in upcoming festive season, as she cited the strong consumer sentiment and shopping intentions across the portfolio of products and offerings.
The company has been growing at over 250% year-on-year on a CAGR basis over the past years. As much as 70% of revenue currently comes from online sales and the balance from offline sales, she informed.
"Today, profitability has become a key drive for all of us. And the way that all of us are doing it, is through looking at the revenue coming in, trying to increase that as much as possible...new revenue streams, launches we can do, consumer bases that we can tap, and looking at the costs and the bottomline and trying to really optimise and find new efficiencies," Gill explained.
She added, "We've been working really hard on those fronts, and we've been doing our job to target and really hopeful that we'll be able to achieve that."
Profitability metrics are key monitorable for the Group as it is "looking to an IPO hopefully in two years".
"And... the precursor to that is being a profitable company. So that's literally where all the energies of ours as a group are directed," she said.
Founded by Darpan Sanghvi, Priyanka Gill, and Naiyya Saggi, the Good Glamm Group's portfolio of DTC beauty and personal care brands is backed by its digital ecosystem of content and influencer platforms as well as community networks.
The Good Glamm Group's key divisions include The Good Brands Co (including , St Botanica, , Organic Harvest, Sirona), The Good Media Co (digital media companies comprising , , , and Tweak India), The Good Creator Co (influencer platforms tracking 1.5 million influencers), The Good Community (omnichannel interest-based network of consumers and experts focusing on shared interests of beauty, parenting, wellness, and sustainability).
Besides being the co-founder of the Good Glamm Group, Gill is also CEO of Good Media Co.
"We are South Asia's largest direct D2C content to commerce startup, where we have beauty and personal care brands, digital media companies, influencers and community, all working together to generate over 4 billion impressions that are given to us by 200 million monthly active users... we have been growing at over 250 % year-on-year on a CAGR basis," she said.
The Group, she said, is aspiring to maintain the growth rate of the past years, in this fiscal too.
Asked if the challenging macro-environment has affected buying sentiments, Gill asserted that the beauty and personal care segment is "sheltered" from such headwinds.
"I think we are in a sector that's sheltered from what you might see as downwards in other retail sectors. As a consumer, we will stop our discretionary spending along many other items before we change the shampoo that we use, or makeup or skincare," Gill said.
The industry is growing and scaling, she asserted indicating there is no trace of sluggishness in consumer sentiments in the category.
Edited by Megha Reddy