Good Glamm Group acquires Talent Management Network MissMalini Entertainment
The Good Glamm Group, which owns the MyGlamm brand, has acquired MissMalini Entertainment, a celebrity and influencer talent management network, in a cash and stock deal. The acquisition's financial terms were not disclosed.
“With the acquisition of Baby Chakra and ScoopWhoop, we had got a good hold on the influencer community… but with MissMalini Entertainment, we now have access to the premium and celebrity influencer network,” says, Darpan Sanghvi cofounder and CEO of The Good Glamm Group.
According to Sanghvi, the direct-to-consumer brand will invest an additional $10 million in the platform to assist develop its influencer base, which will eventually play into the content-to-commerce conglomerate's strategy.
After The Mom's Co, Baby Chakra, ScoopWhoop, and PopXo, this is the group's fifth acquisition this year.
“Our large user base and reach and the digital and go-to-market omnichannel capabilities, combined with the data-driven customer forward insights, will help our brands grow across categories,” Sanghvi said.
Sanghvi stated that the Mumbai-based firm will continue to operate independently.
He added the company's founder Malini Agarwal and cofounders Nowshad Rizwanullah (CEO) and Mike Melli (CRO) will continue to oversee it.
“Both the Good Glamm Group and MissMalini share strong brand synergies, common values and a joint vision to transform India’s burgeoning social commerce industry, leveraging first mover advantages to create exciting new opportunities across the country’s creator economy,” Agarwal said.
In November, Good Glamm secured $150 million from a group of investors led by Prosus Ventures (formerly Naspers) of South Africa and Warburg Pincus, a private equity firm.
The round of funding propelled the consumer brand into the ranks of India's unicorns, or privately held companies valued at $1 billion or more. Good Glamm is valued at $1.2 billion post-money.
MissMalini Media (multi-format original content and marketing), Girl Tribe by MissMalini (women's community platform), Ignite Edge (celebrity and talent management), Agent M Creative (creative agency), and MM Studios (video product house) will now be part of the Group.
The corporation is currently generating $150 million in annual revenue.
“We are expected to close the financial year ending March 31, 2022, at $250 million in revenue,” Sanghvi said.
Purplle, Sugar Cosmetics, Mamaearth, and Plum Cosmetics are new-age, digital-first personal care and beauty firms that have piqued the interest of risk investors, while Nykaa, the largest player, debuted last month with a market capitalization of more than Rs 1 lakh billion.
The Covid-19 epidemic has helped the revenue of online-only firms by hastening customer internet adoption and encouraging them to acquire more of these products.
“With the acquisition of Baby Chakra and ScoopWhoop, we had got a good hold on the influencer community… but with MissMalini Entertainment, we now have access to the premium and celebrity influencer network,” says, Darpan Sanghvi cofounder and CEO of The Good Glamm Group.
According to Sanghvi, the direct-to-consumer brand will invest an additional $10 million in the platform to assist develop its influencer base, which will eventually play into the content-to-commerce conglomerate's strategy.
After The Mom's Co, Baby Chakra, ScoopWhoop, and PopXo, this is the group's fifth acquisition this year.
“Our large user base and reach and the digital and go-to-market omnichannel capabilities, combined with the data-driven customer forward insights, will help our brands grow across categories,” Sanghvi said.
Sanghvi stated that the Mumbai-based firm will continue to operate independently.
He added the company's founder Malini Agarwal and cofounders Nowshad Rizwanullah (CEO) and Mike Melli (CRO) will continue to oversee it.
“Both the Good Glamm Group and MissMalini share strong brand synergies, common values and a joint vision to transform India’s burgeoning social commerce industry, leveraging first mover advantages to create exciting new opportunities across the country’s creator economy,” Agarwal said.
In November, Good Glamm secured $150 million from a group of investors led by Prosus Ventures (formerly Naspers) of South Africa and Warburg Pincus, a private equity firm.
The round of funding propelled the consumer brand into the ranks of India's unicorns, or privately held companies valued at $1 billion or more. Good Glamm is valued at $1.2 billion post-money.
MissMalini Media (multi-format original content and marketing), Girl Tribe by MissMalini (women's community platform), Ignite Edge (celebrity and talent management), Agent M Creative (creative agency), and MM Studios (video product house) will now be part of the Group.
The corporation is currently generating $150 million in annual revenue.
“We are expected to close the financial year ending March 31, 2022, at $250 million in revenue,” Sanghvi said.
Purplle, Sugar Cosmetics, Mamaearth, and Plum Cosmetics are new-age, digital-first personal care and beauty firms that have piqued the interest of risk investors, while Nykaa, the largest player, debuted last month with a market capitalization of more than Rs 1 lakh billion.
The Covid-19 epidemic has helped the revenue of online-only firms by hastening customer internet adoption and encouraging them to acquire more of these products.
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