Good Glamm Group, a content-to-commerce conglomerate, announced on Sunday that it has acquired a majority stake in beauty and personal care brand Organic Harvest, for an undisclosed amount.
Good Glamm will invest extra ₹75 crore in brand growth. The transaction marks Good Glamm Group’s foray into the bio PCB category, according to a statement.
“Organic Harvest was primarily an offline first brand. Now, as part of the Good Glamm Group, Organic Harvest will be able to leverage the group’s large digital audience,” said Darpan Sanghvi, Founder and CEO of Good Glamm Group.
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He added that Organic Harvest will have access to data-driven insights from the group’s content platforms on what consumers are looking for, as well as a strategic approach to influencer marketing with the full suite of services. and influencer marketing solutions from Good Creator Co to create meaningful campaigns with measurable results. RCI.
Sanghvi also said these campaigns will be integrated with Organic Harvest’s product development engine to accelerate the creation, launch and commercialization of skin and personal care products.
Launched in 2013 by Rahul Agarwal, Organic Harvest will continue to operate as an independent entity.
“Organic Harvest has over 700 employees. Yes, they have all been absorbed into the business. The Good Glamm Group-Organic Harvest partnership was born out of a shared vision to leverage content to commerce to exponentially grow organic BPC (beauty and personal care category).
“To go further, Good Glamm will invest even more ₹75 crore in brand growth,” said Organic Harvest CEO Rahul Agarwal.
He added that Organic Harvest has a current revenue rate of ₹75 crore and targets a revenue rate of ₹250 crores by March 2023.
Agarwal will work closely with Darpan Sanghvi, Priyanka Gill and Naiyya Saggi, co-founders of Good Glamm Group, as well as Sukhleen Aneja (CEO Beauty and FMCG Brands at Good Glamm Group) to accelerate Organic Harvest’s presence in India and globally. .
This acquisition continues the Good Glamm Group’s approach of acquiring innovative, fast-growing beauty brands in important BPC categories, and propelling them through a content-to-commerce strategy.
Brands associated with Good Glamm Group include MyGlamm, POPxo, Plixxo, BabyChakra, The Moms Co, ScoopWhoop, St Botanica, MissMalini Entertainment, Sirona Hygiene, Vidooly and Winkl.
Earlier this month Plixxo, MissMalini, Winkl and Vidooly parted company with Good Glamm Group. And, Good Creator Co, India’s largest creator ecosystem, was launched.
The Good Glamm Group’s current revenue is approximately $150 million and is expected to reach $250 million by March 2022. It completed acquisitions worth $270 million in 2021 using a combination of $100 million in cash and the balance of stock exchanges and earn-outs.
It is targeting IPO in FY23-24. In November 2021, Good Glamm Group entered the unicorn club with a valuation of $1.2 billion and raised $150 million from Warburg Pincus and Prosus Ventures. PTI SR HRS hours
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