Beauty Brand MyGlamm acquires The Moms Co for Rs 500 in a big consolidation move

Advertisements

The Good Glamm group (formerly MyGlamm) has acquired direct-to-consumer (D2C) mother and baby care brand The Moms Co, signalling the first big consolidation move in the beauty and personal care segment.

Sources in the know said the transaction – a mix of cash and equity – values The Moms Co at Rs 500 crore.

The deal is the largest acquisition in the buzzy D2C beauty and personal care segment, which has attracted sustained investor interest in the past year.

This is the third big buyout for The Good Glamm group, after parenting platform Baby Chakra earlier this year and content and commerce platform PoPXo in 2020.

Currently, the company is clocking an annual revenue run rate of Rs 150 crore. This is a projection of upcoming revenue based on previously earned revenue.

“The space that we are in is led by content, community and trust in the brand. Being part of the Good Glamm Group is going to help us with distribution and scale,” said Malika Sadani, cofounder and CEO, The Moms Co.

According to Sadani, the company was looking to raise a larger round from investors but chose to merge with The Good Glamm Group instead for better synergies.

The Mom’s Co is backed by DSG Partners and Saama Capital and angel investors such as Ashutosh Valani and Priyank Shah, the founders of male grooming products company Beardo.

Founded in 2016, The Moms Co started off with serving the mom and baby categories and then diversified into women’s skincare products. Today, it sells through 1,500 retail touch points.

Last week, The Good Glamm Group said it had closed its extended Series C round with a total funding of Rs 755 crore ($100 million).

D2C brands in the beauty and personal care category have been growing at an unprecedented rate and have been attracting capital from risk investors

According to data from Venture Intelligence, the beauty and personal care segment has attracted $365 million across 27 funding rounds between January and September 30 this year. In 2020, there were 26 deals amounting to $102 million, while in 2019 there were 22 deals totalling $132 million.



Categories: Corporate M&A

Tags: , , , ,

Leave a Reply Cancel reply

%%footer%%