MyGlamm forays into babycare segment by acquiring BabyChakra; pumps in Rs 100 Cr
D2C personal and beauty care brand MyGlamm has acquired parenting platform BabyChakra to expand - content, community, and commerce in South Asia. MyGlamm and BabyChakra will be investing Rs 100 crore in building one of the largest mom-baby content to commerce platforms in the next three years.
Naiyya Saggi, Founder and CEO, BabyChakra, will join the MyGlamm Group as the Co-founder and President, and will spearhead the Mom-Baby vertical while also building out the overall community vertical for the Group. Naiyya will also join the MyGlamm Board.
Naiyya Saggi, Founder and CEO, BabyChakra, and Co-founder and President, MyGlamm, said:
“I am extremely excited about this partnership with MyGlamm and working with Darpan, Priyanka, and team as we build India’s largest parenting platform. MyGlamm is an established leader in the ecommerce ecosystem with a shared value system on how to develop, launch, and scale best-in-class products that cater intuitively to the needs of our consumers."
With this acquisition, BabyChakra will continue to remain focused on building the largest, most-trusted brand in the mom child ecosystem starting from India. While BabyChakra’s digital assets and solutions already reach & deeply engage 25+ million families, the MyGlamm partnership will exponentially accelerate its journey on the D2C ecommerce side.
Naiyya said while the Indian Mom & BabyCare market is large and rapidly growing at 15-20 percent CAGR, Indian moms and kids still need products that are truly personalised to their needs.
"I am also very excited to contribute to the group by leading its overall efforts at building out engaged communities based on a data and product first approach," said Naiyya.
The company stated that the move to acquire BabyChakra began in 2020 with the founders of both companies aligning on a shared vision about Content, Community, and Commerce being the future of creating digital-first brands, and there being an opportunity for the same in the Mom - Baby category at scale.
This led to the partnership of MyGlamm and BabyChakra to build India’s largest Mom-Baby content to commerce company. The whole process took six months and was finalised on 11th August, 2021.
The company stated that together (MyGlamm, POPxo and, BabyChakra) they represent a community of over 80 million women, have produced and sold millions of beauty products across makeup, skincare, and personal care, and have over 220,000 influencers on their platforms.
Darpan Sanghvi, Founder and CEO, MyGlamm said,
“The Mom-Baby category is one of the fastest growing categories currently in the BPC segment in India. BabyChakra has built an incredible amount of trust among parents through its engaging platform, community, and extensive Doctor network. We are thrilled to have Naiyya join the Group as Co-founder and work alongside her to make BabyChakra -- the largest Mom-Baby brand and platform in India”
The company stated with the commerce stack that MyGlamm has built out and scaled, BabyChakra will leapfrog its D2C capabilities by continuing to co-create best in class products with their large communities of families and doctors, launch products online and offline across the country, thus ensuring every mother and family has the best care for themselves and further expanding the #TellMyGlammWhatYouWant brand philosophy in the parenting segment as well.
Priyanka Gill, Co-founder and President, MyGlamm, commented, “Really happy to have BabyChakra join the MyGlamm and POPxo family. I can think of no one better than Naiyya to lead our strategy in the parenting segment. BabyChakra addresses important concerns and supports moms from the very first day of their maternal journey and I look forward to working alongside Darpan and Naiyya in building India’s largest parenting platform.”
MyGlamm products, launched in October 2017, are available both online and offline. The brand has over 15,000 points of sale across 70 cities in India. Recently, the brand closed its Series C funding round at Rs 530 crores and is projecting to grow to an annualized revenue of Rs 750 crore by December 2021.
Currently, MyGlamm has around 800 SKUs across makeup, skincare, personal care, and recently entered the hair care segment as well.
Edited by Megha Reddy