The Good Glamm Group will no longer operate as a single entity. In a LinkedIn post, CEO Darpan Sanghvi confirmed that the group’s brands will be sold individually, each with its own new owner, following a decision by lenders to enforce their charge on the assets.
“The brands will be sold one by one and will operate individually, there will be new individual owners for each of the different brands,” Sanghvi wrote.
Founded in 2021, the Good Glamm Group quickly became a major content-to-commerce player, acquiring brands like MyGlamm, The Moms Co, Sirona, Organic Harvest, St Botanica, Wyn Beauty, BabyChakra, and POPxo. However, as growth slowed, the ambitious acquisition model put financial pressure on the company.
Sanghvi also made a personal pledge to employees regarding unpaid dues. “Moving forward, 25% of what I earn (post-tax) from salary or equity gains in any venture will go toward making you whole. However long it takes, I will keep working till everyone is taken care of.”
This applies only if brand sales fail to cover dues. To vendors, he promised to work with new owners to resolve outstanding payments and restore business ties.
He also announced plans to create a Good Glamm Restitution Fund within 60 days, seeded with equity from future ventures.
According to The Economic Times, Good Glamm’s rapid acquisition strategy during the 2021 funding boom led to overpayment for brands that struggled to scale-ultimately straining the group’s finances as expected growth didn’t materialise.
