Good Glamm Group appoints ex-Estee Lauder exec as global president
Lauren Bloomer's appointment as global head further underlines The Good Glamm Groups' efforts for international expansion as it gears up for public listing plans.
Direct-to-consumer (D2C) beauty and personal care conglomerate Good Glamm Group on Wednesday said it has appointed Lauren Bloomer as President- International.
Bloomer will also join the Board of Wyn Beauty by Serena Williams as the representative for the Good Glamm Group.
Previously, Bloomer was the CEO of Becca Cosmetics. Prior to that, she held executive positions at Estee Lauder as vice president of global skincare marketing and vice president of global promotional marketing for Clinique. She also has branding experience in the popular disinfecting wipes company, Clorox.
The D2C company said that Bloomer’s appointment further reinforces the company's plans for international growth and expansion beyond the South Asian region.
The Good Glamm Group had earlier signed a joint venture with Serena Williams to enter the US market through Wyn by Serena Williams, which will be retailed through Ulta Beauty outlets.
Darpan Sanghvi, Group Founder, Good Glamm Group on the appointment noted, “After a successful launch of our international business, we are now delighted to welcome Lauren to the Good Glamm Group to drive our next phase of growth.”
Its flagship brand, MyGlamm, has rapidly grown to become one of the largest D2C colour cosmetics companies for South Asian skin tones. Growing from one brand to a conglomerate, the Good Glamm Group logged impressive growth with Rs 49 crore to Rs 640 core in the last two financial years.
Under its profitability efforts, the company, in April, downsized its workforce by 15% or 150 employees, as it trimmed its organisational structure ahead of public listing plans. The company is currently CM2 profitable and aims to achieve EBITDA profitability by the end of FY25.
Good Glamm is gearing up for IPO by the end of October and expects international expansion to be a driving force. It plans on getting 25-35% of its overall group revenue from international operations by the end of next year. According to Tracxn, the Good Glamm Group is valued at $1.2 billion.
The D2C conglomerate operates on the content-to-commerce model and has popular beauty and personal care brands under its umbrella, including MyGlamm, The MomsCo, Sirona, Wyn Beauty, and St. Botanica. It is backed by Accel, Prosus, and Warburg Pincus, among others.
Edited by Suman Singh