Good Glamm Group aims for profitability, Prior to its IPO
The Good Glamm Group, operating in media, consumer goods, and content creation, will prioritize its bottomline as it targets a public market listing within two years, according to a top company executive.
“2020-21 marked the year of acquisitions, while 2022 focused on implementing processes, consolidating, and adding structure. In 2023, we aim to become profitable as an enterprise, in preparation for listing the company in the next two years,” said Priyanka Gill, co-founder of The Good Glamm Group, in an interview with ReTale.
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, it bought a 51% stake in Twinkle Khanna’s media company Tweak India, and had acquired digital media and content platform ScoopWhoop in 2021.
Good Glamm Group operates four divisions, including The Good Brands Co., which houses direct-to-consumer beauty and personal care brands MyGlamm and St Botanica.
The Moms Co, Organic Harvest, Sirona and BabyChakra. Gill leads The Good Media Co various media platforms, some of them acquired by the company, such as POPxo, ScoopWhoop, MissMalini, BabyChakra and Tweak India. It also operates influencer platform The Good Creator Co that tracks 1.5 million influencers apart from Good Community. GMC has 250 million monthly active users across platforms who drive over 3 billion engagements every month·
Several large startups either deferred their stock market listing or reduced the size of their IPOs over the past few months given choppy market conditions as well as.
Gill said the company will largely adhere to the internal timelines it set to hit public markets but it keeps evaluating the market. “We’ve always said that it would be around that time, and of course, it’s not kind of set in stone. We will of course be evaluating the market very, very closely when it comes to deciding the time for listing,” Gill said. “But we are very clear that we’d like to be profitable as a group before we list,” she added.
In March this year, the Good Glamm Group along with Akshay Kumar also formed a joint venture to launch personal care and wellness products for men. Both Kumar and the Good Glamm Group will invest capital and work together to scale the business, the company said then. The company could look at more such experiments where it works with celebrities to launch co-branded products.
Meanwhile, commenting on any future investments in media platforms in India, Gill said the company keeps evaluating the market, however, a “razor sharp” focus on profitability is priority. “We look for value and opportunity wherever it is, and if the right asset comes our away, if it makes sense for us, of course we will look at it. We’re not ready…right now I think it’s really kind of heads down and focus bottom-line profitability,” she said.
