The Good Glamm Group’s co-founder Naiyya Saggi is reportedly exploring her second entrepreneurship journey with a new venture in the consumer electronics retail space.
Naiyya Saggi new exploration, know why!
Saggi had joined The Good Glamm Group as a cofounder after Mumbai-based parenting platform BabyChakra, which she founded, was acquired by the group in an equity swap deal in 2021.
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According to Mint, citing people close to the matter, “Saggi is no longer operationally involved in running Good Glamm. Though she will continue to hold equity in the group, she will start another business.” The report added that discussions are on with some of the investors.
Established in 2021 by Darpan Sanghvi, Priyanka Gill, and Saggi, The Good Glamm Group is a privately held company that operates in the cosmetics and personal care, media, and influencers industries.
The Good Glamm Group owns or has partnerships with several D2C brands, including Sirona, The Moms Co, Organica Harvest, St. Botanica, and Wyn Beauty, among others. Last year, Gill left the company to join early-stage venture firm Kalaari Capital.
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Good Glamm acquires The Moms Co.
Recently, the group completed a 100% acquisition of D2C mom and baby care brand The Moms Co. Additionally, the company had raised its stake in The Moms Co from 75% to 90% in March 2023, resulting in partial exits of Moms Co cofounders and complete exits for investors like DSG Capital and Saama Capital.
Earlier this year, the group’s chief executive of D2C vertical The Good Brands Co, Sukhleen Aneja departed from the startup. The Good Glamm Group’s financials show a net loss of INR 917 Cr in FY23, up 153% from the INR 362.5 Cr it incurred in FY22. The startup’s revenue increased 2.8X in FY23, with operating revenue standing at INR 603 Cr, up 185% year-over-year.
