(previously called My Glamm) has now acquired Miss Malini Entertainment. The move is aimed at offering Good Glamm Group unprecedented access to a robust network of influencers, celebrities and market know-how to strongly enhance its content-to-commerce play in the country.
While the terms of the deal are undisclosed, Mumbai-based Miss Malini Entertainment will continue to function independently while bringing its expertise to the Good Glamm Group.
MissMalini Founder Malini Agarwal and co-founders Nowshad Rizwanullah (also CEO) and Mike Melli (also CRO) will continue to lead the company. They will work closely with Good Glamm Group Founder and CEO, Darpan Sanghvi and co-founders Priyanka Gill and Naiyya Saggi.
This is one of the five acquisition deals that has been on The Good Glamm Group’s radar as announced when it turned unicorn in November this year. The startup had already acquired The Mom’s CO in October 2021 in one of the largest D2C deals in the segment. A month later, it acquired St Botanica, a leading haircare and skincare brand and signed Kareena Kapoor as brand ambassador for St Botanica.
When it comes to content, the group had already acquired POPxo last year as well as ScoopWhoop in September this year, before it turned towards Miss Malini Entertainment.
“We have strongly believed in the content, community, and commerce play. Within that segment, we are looking closely at the influencer led marketing and base to bring in a stronger content-community-commerce play. While POPxo and Plixxo look at the mid and nano influencer segment, Miss Malini now brings us the Bollywood and celebrity segment,” said Darpan in a conversation with YS.
The company said it would invest Rs 450 crore into acquiring companies that align with the group’s three verticals – beauty and personal care, content and influencer marketing, and baby and parent care.
Priyanka Gill, Co-founder, Good Glamm Group said, “Malini and I both started our own digital content ventures nearly a decade ago – and today, as we welcome MissMalini to the Good Glamm Group – we have come full circle. We are passionate believers in the might of digital content and MissMalini’s reach into the celebrity and influencer landscape will open up exciting avenues for the Good Glamm Group. I look forward to working with the MissMalini team to build out our collective vision.”
The Good Glamm Group’s commerce and content stack coupled with MissMalini’s celebrity, influencer and content strengths is aimed at further turbocharging the group’s D2C capabilities.
With this acquisition, the Good Glamm Group now boasts a bouquet of India’s largest digital media brands including POPxo, ScoopWhoop, BabyChakra, and now MissMalini Entertainment. Its media division now generates over 3.5 billion monthly impressions and has over 150 million unique users, placing the Group’s digital reach amongst the largest for any ecommerce or digital media company in India.
Why take the acquisition route
Speaking about the acquisition, Malini said in a conversation with YS,
“When we started, the concept of influencer-based content and clean Bollywood content just didn’t exist. We had a vision of creating our homegrown Indian brand, and with Chhota Bhim, we were able to do it. When I started, I did it the old school way by bootstrapping the business. And with The Good Glamm Group, along with Darpan, Priyanka, and Naiyya, I felt we had great synergy.”
She explains that the team understood the core values and thesis that Miss Malini worked on and also asserted that The Good Glamm Group followed similar principles.
“For us, having a brand like Miss Malini was a no brainer. Malini has built a strong brand and it gives us access to an entire segment of celebrity and Bollywood influencers. We are looking at the deal from a complete content-commerce-community angle. We believe content will strongly funnel into our core brands and products,” explained Darpan.
Naiyya Saggi, Co-founder, Good Glamm Group added, “We are so excited to welcome Malini, Nowshad and the fantastic team at MissMalini to The Good Glamm Group. Malini is synonymous with Bollywood, the influencer economy, and now with The Girl Tribe – a highly engaged community for women. These are all critical pieces for us as a group with clear synergies across each of our brands. This also marks yet another milestone for us as a group partnering with audacious, bold entrepreneurs who create categories. We look forward to growing from strength to strength with this special partnership.”
The Good Glamm Group says its large user base and reach, digital and go-to-market omnichannel capabilities, combined with its capacity to derive data-driven customer forward insights will help its brands to successfully create, launch, and market products in the beauty, skincare, personal care, male grooming and parenting categories.
Currently, The Good Glamm Group currently has over $150 million revenue run rate. This is projected to touch $250 million by March 2022. The unicorn has closed $270 million worth of acquisitions in 2021 using a combination of $100 million (Rs 750 crore) in cash and the balance in stock swaps and earnouts. The Good Glamm Group is targeting IPO in FY23-24.
Nowshad Rizwanullah, Co-Founder and CEO, MissMalini Entertainment, added, “Our relationship with Darpan stretches back several years, thanks to our shared passion for content and creator powered commerce.”
“While our early discussions focused on our two companies, it became immediately clear that combining Good Glamm Group’s proven commerce expertise with our decade of experience in celebrity and influencer media would create exciting and unique new business opportunities not only for our own brands but also for our valued B2B clients at large. MissMalini’s B2B practice has been at the forefront of the influencer marketing surge over the last two years, and now, our clients will have a distinct advantage in navigating the creator/influencer ecosystem at scale. This deal comes at a time when the market has been transformed from individual transactions to long-term IP creation and we are thrilled to set foot on this next journey with Good Glamm Group.”