Debt-Ridden Good Glamm Group Sold MissMalini for INR 6 Crore

The Good Glamm Group (GGG), with backing from Warburg Pincus, has sold MissMalini Entertainment, a network for managing influencers and media. According to various media reports, marketing firm Creativefuel has purchased the Mumbai-based MissMalini for INR 6 crore in what appears to be a distress sale. Additionally, Creativefuel has just purchased the Pataakha and Hasley India YouTube accounts. The media company's five business divisions—the marketing and content platform MissMalini, the women's community platform Girl Tribe by MissMalini, the talent and celebrity management division Ignite Edge, the creative agency Agent M Creative, and the production company MM Studios—were acquired by GGG in 2021. The GGG had reportedly spent around INR 70 crore to seal this deal.

GGG Selling Other Businesses too

The Good Glamm Group, a content-to-commerce venture, has also listed some of its other businesses for sale. Brands like GGG's Organic Harvest and The Moms Co. are for sale at a time when the content-to-commerce company is struggling financially and trying to raise money to stay afloat. Sirona and other previously owned businesses have been sold back to their original owners. ScoopWhoop, another company owned by GGG, is also sold. In September 2021, the creators of online parenting business BabyChakra, digital media platform POPxo, and direct-to-consumer startup Myglamm joined forces to form The Good Glamm Group. ScoopWhoop, St. Botanica, and a number of other brands are among the dozen brands the group has since bought.

GGG Navigating Through Troubled Water

Prominent investors such as Amazon, Accel, Bessemer Venture Partners, Prosus Ventures, Warburg Pincus, and others have contributed around $400 million to the Good Glamm Group in just nine years. These investments were raised at a valuation of $1.26 billion. Despite the fact that the Good Glamm Group had planned to go public in FY25, the company has faced difficulties along the way. When Sukhleen Aneja, the CEO of the company's main business, left in April of last year, 150 workers were let go. Later, Aneja worked for Nykaa, a business that rivals The Good Glamm Group. After a 15-month lag, the Good Glamm Group's FY23 statistics revealed that its losses had increased to INR 917 crore, 153% more than the INR 363 crore it had spent in FY22. Due to several acquisitions the firm made, its operational revenue was INR 603 crore, 185% more than the INR 211 crore recorded in FY22.