Myglamm – Startup Story | Founder| Ceo | Funding | History | Competitors

Introduction:

Now a days, splendor merchandise are in each residence utilized by exclusive human beings for exclusive purposes, and MyGlamm is right here for serving the prpose. Whether you’re in New York, Mumbai or Milan, MyGlamm is aware of for all, maximum days are filled with infinite plans and limitless to-do lists. Friends, family, university or even colleagues vying in your time. And whilst you juggle all this effortlessly, it is aware of that regularly you are left with slightly any time for yourself.

Regardless of ways busy the day might also additionally be, you should not must compromise at the manner you need to appearance or for your glam quotient. Which is why, MyGlamm, sponsored via way of means of one in all Europe’s biggest herbal splendor companies, collaborated with worldwide specialists and make-up artists to result in thrilling improvements in make-up to perform our single, targeted goal – make searching glamorous effortless! It gives merchandise withinside the classes like Makeup, Hair Care, Skincare, Sanitizing Care, Shop By Collection etc.

About:

MyGlamm is a direct-to-purchaser splendor emblem that gives a market for stylists, beauticians, nail, and spa aestheticians. MyGlamm affords a market for stylists, beauticians, and nail and spa aestheticians to offer on-call for hair, splendor, nail, and spa offerings at a purchaser’s doorstep. MyGlamm changed into released in 2015. The Good Glamm Group, the discern organization of direct-to-purchaser splendor emblem MyGlamm, is the present day Indian startup to enroll in the unicorn club. It presently has 501 – a thousand personnel with a valuation of organization $1.2b.

Website : https://www.myglamm.com/

Founder & Team:

MyGlamm co-founder and leader government is Darpan Sanghvi.

MyGlamm employs fifty one personnel. The MyGlamm control group consists of Darpan Sanghvi (Chief Executive Officer), Naiyya Saggi (Co-Founder), and Majumder Apratim (Chief Marketing Officer). MyGlamm is situated in Mumbai, India and has 2 workplace places throughout 1 country.

History:

Founded in July 2015 via way of means of Darpan Sanghvi, MyGlamm has a group of seventy five human beings unfold throughout its Mumbai and Pune workplace. The startup to begin with began out with 450 offerings.MyGlamm is one such case have a look at in D2C commercial enterprise version that created a strong product and platform recall, obvious from the truth that 98% of its on line income arise thru its internet site and app. The emblem began out as an on-call for splendor provider in 2015 thru which clients should ee-e book a domestic spa or splendor provider.

In Oct 2017, Myglamm pivoted its commercial enterprise version to introduce splendor merchandise below the equal emblem with a brand new logo. MyGlamm went thru 4 awesome levels in its increase adventure to end up a virtual powerhouse.

The Launch (Oct 2017 to Nov 2018):

It began out with a gap TG – Busy, independent, assured girls. MyGlamm’s first advert marketing campaign offers six girls with six exclusive splendor desires and utilization occasions, be it at the circulate in a cab or elevate or brief touchups earlier than a celebration or leaving the place of business after a protracted day. It had a tagline – Makeup that multitasks for you. 

Extensive product schooling changed into imparted via way of means of the emblem thru social media, specifically the video content material format. Globally, there has been a 62% growth in splendor video perspectives in 2018 from the preceding year. However, movies of large splendor manufacturers accounted for most effective 3% of general Youtube perspectives on splendor whilst character bloggers managed the rest.

The Touch of Celebrities (Dec 2018 to Mar 2020):

MyGlamm created advert campaigns with celebrities the usage of clutter-breaking storylines. The marketing campaign #TurnOnYourEyes with Lisa Haydon mentioned girls’s empowerment. Popular Bollywood supermegacelebrity Sidharth Malhotra changed into roped in to release LIT, its vegan cruelty-unfastened make-up range. The marketing campaign #TestedOnSID gave a humorous spin to the context wherein Sidharth says the goods are examined on him as opposed to animals. For the primary time in India, a male celeb changed into used to sell a beauty emblem. 

MyGlamm did some other first withinside the enterprise via way of means of co-branding its top rate new release with style clothier Manish Malhotra in Dec 2018. Then got here the release of POSE, various camera-geared up make-up promoted via way of means of Bollywood supermegacelebrity Sonakshi Sinha. To create buzz, the emblem launched a teaser on social media wherein Sonakshi changed into proven to be handcuffed and brought into police custody. The actor then found out the brand new release on her Instagram page. 

3Cs at play – Content, Community & Commerce (Apr 2020 to Mar 2021):

According to a Facebook India & BCG report, Lockdown caused a 1.35x growth in on line splendor consumers in India. MyGlamm noticed this surge as an possibility to growth its consumer base aggressively. While the emblem grew via way of means of 400% withinside the beyond one year to hit an annualized sales of a hundred and forty cr, excessive CAC (Customer Acquisition Cost) and coffee LTV (Lifetime Value) had been the motive of concern.

Name & Logo:

Figure: MyGlamm Logo

Revenue:

Manish Malhotra Beauty with the aid of using MyGlamm has quick mounted itself because the primary top class make-up emblem in India with 2 hundred retail places throughout 50 towns in India and on-line orders brought to over a thousand towns in India. In 2020, Manish Malhotra Makeup with the aid of using MyGlamm expects to turn out to be the primary emblem to go the Rs a hundred cr quantity in much less than  years of launch.

The Mumbai-founded startup has raised $one hundred fifty million in its Series D financing spherical from Prosus Ventures and Warburg Pincus. The new spherical, which additionally noticed participation from Alteria Capital and present traders L’Occitane, Bessemer Venture Partners, Amazon, Ascent Capital and the Mankekar Family Office, values the four-year-vintage startup at $1.2 billion post-money.

That’s a 12x surge in its valuation from $a hundred million in March this year. MyGlamm turned into valued at $three hundred million in July, whilst it prolonged and closed its Series C financing spherical. Naiyya Saggi, co-founding father of MyGlamm, stated the startup has already accomplished EBIDTA break-even and the brand new capital will function a conflict chest because it scales. By the second one 1/2 of of subsequent year, MyGlamm plans to start its worldwide expansion, she stated in an interview.

Funding & Investors:

There are 19 different investors for MyGlamm products.The best or reknowned ones are –

• Tano Capital, Brand Capital – $6 M.
• Tano CapitalBrand Capital, L’Occitane en Provence – $5.3 M.
• Bessemer Venture Partners – $14.5 M.
• Amazon, Wipro Consumer Care and Lighting, Ascent Capital (India) – $24.1 M.
• Accel, Bessemer Venture Partners, Amazon, L’Occitane en Provence, Trifecta Retail Ventures, Ascent Capital (India), Stride Ventures, Mankekar Family – $47.7 M.
• Bessemer Venture Partners, Warburg Pincus, Amazon, L’Occitane en Provence, Alteria Capital, Ascent Capital (India), Mankekar Family, Prosus Ventures – $150 M.

The total fund invested was $288 M.

Revenue Model:

• MyGlamm’s ultra-modern investment spherical became a Series D for $150M on November 10, 2021.
• MyGlamm’s valuation in November 2021 became $1,200M.
• MyGlamm’s ultra-modern post-cash valuation is from November 2021.
• MyGlamm has raised a complete of $311.9M in investment over 12 rounds. Their ultra-modern investment became raised on Nov 9, 2021 from a Series D spherical.
• MyGlamm is funded via way of means of 19 buyers. Ascent Capital and Bessemer Venture Partners are the maximum latest buyers.
• MyGlamm has invested in Sirona Hygiene on Dec 21, 2021. This funding – Series B – Sirona Hygiene – became valued at ₹1B.
• MyGlamm has received five organizations. Their maximum latest acquisition became MissMalini Entertainment on Dec 13, 2021.

MyGlamm, which closing month received direct-to-patron (D2C) mom and child care logo The Moms Co for over $sixty five million, is finalizing talks to accumulate every other 4 manufacturers that it expects to shut via way of means of the cease of this 12 months, stated Sanghvi.

The inorganic push to make bigger MyGlamm has established a hit for the firm, which closing 12 months received POPxo, a startup that has constructed a network round content material, influencers and trade. POPxo — based via way of means of Priyanka Gill, who joined MyGlamm as a part of the acquisition — has supercharged the bigger firm’s trade withinside the beyond 12 months. POPxo’s userbase, withinside the meantime, has ballooned to 88 million users, up from 60 million in July, stated Gill in an interview.

MyGlamm has increased the already massive Manish Malhotra Beauty via way of means of MyGlamm line via way of means of doubling in length, developing to a hundred+ SKU’s.

Other Services Offered via myglamm:

MyGlamm gives bespoke splendor offerings at your doorstep, pamper your self with on-call for hair, splendor and grooming offerings via way of means of professional artists from the enterprise at your convenience. For the primary time in India, an incubator that facilitates artists to connect to ability customers is especifically designed on the MyGlamm studio.

The Glamm Team that has added you the French L’OCCITANE Spas, the New York primarily based totally Warren Tricomi Salons and the trendy ELLE Spas & Salons, at the moment are bringing to you MyGlamm, a cellular App for on-call for hair, splendor and glamm offerings at your doorstep. They are quickly developing with Android and iOS app, in an effort to be very handy and useful.

Competitors:

Competitors of MyGlamm are –

• Nykaa.com – Based out of Mumbai, Nykaa is famous for its huge variety of splendor and cosmetics merchandise, fashion, and intimate put on that the organization makes to be had via its on line website, app, and thru its on line shops. Making easy ladies high-quality in each thing is one of the most important focuses of the logo.
• Glossier – Glossier is a splendor logo stimulated via way of means of actual life. Everything we do is distilled into our essential, easy-to-use skin care and make-up merchandise. Glossier became a hit on line as it had constructed its logo round its non-public, actual reference to its customers. It implemented this equal precept to its retail places. Rather than beginning shops with the only goal of promoting product, Glossier became additionally growing areas for its network to hold out.
• Licious – Licious is India’s first D2C Unicorn, situated in Bengaluru, Karnataka, India. The organization operates on a farm-to-fork model, proudly owning the complete back-cease deliver chain and bloodless chain.
• GetYourGuide – GetYourGuide is a main journey platform for reserving tours, attractions, excursions & sports in your subsequent holiday or weekend adventure.

Latest News:

• Nov 2021 – India D2 splendor logo MyGlamm will become unicorn with $one hundred fifty million investment.
• Nov 2021 – Mumbai-primarily based totally Good Glam Group Turns Unicorn With $1.1Bn Valuation On $150M fundraise
• Jul 2021 – Accel provides glitz to MyGlamm’s Series C spherical
• Jun 2021 – D2C Beauty Brand MyGlamm Raises Funding From Bollywood Actress Shraddha Kapoor Jun 2021
• Mar 2021 – MyGlamm investment: Amazon’s first funding in an Indian patron logo

Future Plans:

The Good Glamm Group plans to apply those budget to more often than not put money into product development, assist statistics technological know-how and era research, growth offline enlargement, and additionally to fund operating capital requirements. Direct-to-patron splendor logo Myglamm is in talks with new and current buyers to elevate near Rs one hundred ten crore ($15 million) via way of means of January 2021, to gas its enlargement withinside the Indian market.

The Good Glamm Group is likewise set to make 4 acquisitions in haircare, naturals and private hygiene class via way of means of the cease of this 12 months, in line with Sanghvi. He brought that the organization is probable to spend round $270 million for all of the six acquisitions (together with MomsCo and ScoopWhoop).

In October, the organization received virtual media and life-style content material platform Kalaari Capital-sponsored ScoopWhoop Media Pvt Ltd. It additionally sold out child-care merchandise startup The Moms Co for an undisclosed sum the very equal month.

“We are honestly withinside the center of fund-elevating, and we count on it to shut via way of means of subsequent month. We are speaking to new buyers for the fund- elevating spherical, wherein the prevailing buyers may also participate. In offline, we’ve 4,000 factors of income throughout 50 towns in India. We trust that to construct a logo at authentic scale in India, being omni-channel is a must,” Darpan Sanghvi, founder and CEO of Myglamm, informed PTI.

Sanghvi stated that the organization hopes that e-trade penetration of a majority of these classes will go 40% withinside the years to come. The organization is concentrated on to move public via way of means of Diwali 2023. Sanghvi has no plans to listing abroad. “See the multiples of patron organizations that have were given indexed on Indian bourses. They have one of the first-rate multiples.”

Some FAQs:

Is MyGlamm owned via way of means of Manish Malhotra?

In January 2019, couturier to the stars, Manish Malhotra have become the primary Indian fashion dressmaker to introduce a entire variety of splendor & color cosmetics together along with his exclusive, costly make-up line co-created with European splendor logo, MyGlamm.

Who is the proprietor of MyGlamm organization?

MyGlamm co-founder and leader govt is Darpan Sanghvi

Can we go back MyGlamm merchandise?

Contact our Customer Support crew thru e mail hello@myglamm.com inside 7 days of receiving the order. You also can name us at 022-48913663.

Is MyGlamm halal?

It’s official! They’re PETA Approved! The make-up you notice right here is freed from animal-derived elements and a hundred% vegan!

Is MyGlamm made in India?

Conceptualised, formulated and evolved in laboratories in Italy and Germany.

Is MyGlamm coins on delivery?

COD is to be had on all orders above INR 199 (payable).

How does MyGlamm cashback work?

Refer Your Friend and Earn make up really well worth Rs 500 for loose. When your buddy makes a purchase, you’ll get your reward.

Conclusion:

MyGlamm became based in 2017 via way of means of Sanghvi and Gill. The organization claims to be India’s fastest-developing D2C splendor logo, with a number of over 800 cruelty-loose and vegan merchandise throughout classes which include make-up, skin care, and private care. It additionally has over 30,000 offline factors of sale throughout 70 towns of India.

The Good Glamm Group is specially bullish on haircare, specially hair color, because it feels that e-trade penetration in hiarcare is much less than 3.8 spite the wider class touted at $three billion. Sanghvi is similarly constructive that The Good Glamm’s content material to ecommerce moat and advanced merchandise also can be useful to get deeper in skin care as well. He stated that presently the e-trade penetration of skin care is much less than 4.five% while the class’s length is at $2 billion.

In September, MyGlamm crowned up its Series C fundraise with a $34 million (Rs 255 crore) infusion led via way of means of an fairness funding from the Trifecta Leaders Fund and dependent financing from Trifecta Capital and Stride Ventures. Earlier this month, VCCircle mentioned that MyGlamm is in superior discussions to select out up controlling stakes in  non-public care organizations.