The Good Glamm Group downsizes workforce by 15% as part of new organisational framework
The company said that the optimisation was achieved through the completion of integrations between various acquired companies.
Content-to-commerce company has downsized its workforce by approximately 15%, or 150 employees as part of a new organisational framework ahead of its Initial Public Offering (IPO).
This marks the concluding phase of the company’s team integration efforts, which led to a 15% optimisation (workforce reduction) of the team over the last 15 months, the company said.
The company noted that the optimisation was achieved through the completion of integrations between various acquired companies, which also led to promotions of individuals from those acquired companies to senior group roles.
These changes include appointing Manan Jain as the Group’s Chief Operating Officer, Kartik Rao as both the Group's Chief People Officer and Senior Vice President of Founder Initiatives, and Ketan Bhatia as the Group Brand Director.
Additionally, Avalok Langer has been named the Group’s Chief Creative Officer, Ajesh Narayanan as the Group Design Head, Ashish Jadhav as the Group Head of Product, and Ankita Bhardwaj as the Director of Brand and Marketing.
Recently the group also announced the appointment of a new Group CFO, Kamal Lath. Earlier this year, Priyanka Gill, Co-founder of The Good Glamm Group, joined early-stage venture capital firm Kalaari Capital as a venture partner.
The Mumbai-based firm claims that the retention rate of its top 60 senior leaders has consistently been at over 85% over the last two years.
In a statement, it noted that the new organisational framework streamlines collaboration by assigning cross-departmental responsibilities, empowering junior managers with controlled budgets for quicker decision-making, and flattening hierarchies to eliminate redundancies.
“With the Group on a distinctive growth trajectory and now approaching profitability, we are excited to unveil a systematic approach towards an Agile Organisational Framework that will allow us for faster execution in the run-up to our IPO,” Darpan Sanghvi, Group Founder and CEO of Good Glamm Group, said in a statement.
The Group also introduced its GlammSOP programme, enabling high-performing employees to accelerate the vesting of their ESOPs at the IPO, while also introducing a new target-based ESOP pool for senior management that vests concurrently.
ESOPs, or Employee Stock Ownership Plans, are programmes where employees are granted company stock as part of their compensation.
Besides the ESOPs programme, it also announced its Entrepreneur in Residence programme.
The company is preparing for a public market listing in October 2025, aiming to make global expansion a key part of the move. The Group expects its international business to account for 25-35% of its overall group revenue by the end of next year.
Earlier this month, the company entered into a joint venture with American entrepreneur and former tennis player Serena Williams to launch a makeup line, enabling the Mumbai-based firm to establish its footprint in the US market.
(The story has been updated with more information on the impact of the new organisational framework.)
Edited by Affirunisa Kankudti