NEW DELHI :The Good Glamm Group, which is active in media, consumer products and content creation, will prioritize profits as it aims to be publicly listed within two years, according to a top executive at the company.
NEW DELHI :The Good Glamm Group, which is active in media, consumer products and content creation, will prioritize profits as it aims to be publicly listed within two years, according to a top executive at the company.
“2020-21 was the year of acquisitions, while 2022 focused on implementing processes, consolidating and adding structures. In 2023, we aim to become profitable as a company to prepare for the company’s public listing in the next two years,” said Priyanka Gill, co-founder of The Good Glamm Group, in an interview with Mint.
“2020-21 was the year of acquisitions, while 2022 focused on implementing processes, consolidating and adding structures. In 2023, we aim to become profitable as a company to prepare for the company’s public listing in the next two years,” said Priyanka Gill, co-founder of The Good Glamm Group, in an interview with Mint.
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Over the past two years, the group has acquired many media and consumer brands including The Moms Co., Organic Harvest, Sirona, St. Botanica and BabyChakra. In December, the company bought a 51 percent stake in Twinkle Khanna’s media company Tweak India and had acquired digital media and content platform ScoopWhoop in 2021.
The Good Glamm Group operates four divisions, including The Good Brands Co., which is home to the direct-to-consumer beauty and personal care brands MyGlamm and St. Botanica.
The Moms Co, Organic Harvest, Sirona and BabyChakra. Gill runs various media platforms from The Good Media Co, some of which have been acquired by the company including POPxo, ScoopWhoop, MissMalini, BabyChakra and Tweak India. It also operates influencer platform The Good Creator Co, which tracks 1.5 million influencers alongside Good Community. GMC has 250 million monthly active users across all platforms generating over 3 billion engagements each month.
Several large startups have either deferred their listings or reduced the scope of their IPOs in recent months due to unsettled market conditions.
Gill said the company will largely stick to the internal timelines it has set out to get to the public markets, but it continues to evaluate the market. “We always said it would be around that time and of course it’s not set in stone. We will of course be evaluating the market very, very closely when it comes to timing the listing,” Gil said. “But we’re very clear that we want to be profitable as a group before we go public,” she added.
In March of this year, Good Glamm Group also formed a joint venture with Akshay Kumar to launch men’s personal care and wellness products. Both Kumar and Good Glamm Group will invest capital and work together to scale the business, the company said at the time. The company could look at more such experiments, working with celebrities to launch co-branded products.
Meanwhile, commenting on future investments in media platforms in India, Gill said the company continues to evaluate the market but prioritize a “razor sharp” focus on profitability. “We’re looking for value and opportunity wherever they are and if they’re right if it makes sense for us then obviously we’ll look at that. We’re not ready… right now I think it’s really kind of a headache and it’s focused on bottom-line profitability,” she said.
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