Business

Good Glamm Group restructures business, announces international division

Beauty and personal care brand The Good Glamm Group on Wednesday announced an international division as it looks to expand to the Middle East and Southeast Asia to garner $150 million revenue from international markets over the next three years.

The company added that it had also restructured its business into three key divisions – Good Brands co., Good Media co. and Good Creator co., in a bid to build revenue synergies as it consolidated the 11 acquisitions in the past year.

In a statement, the company said, led by group founder & CEO Darpan Sanghvi and group co-founders Priyanka Gill and Naiyya Saggi, the structure consolidates Good Glamm Group companies into independent brands, media and creator divisions: Good Brands co. led by Sukhleen Aneja, Good Media co. led by Priyanka Gill, and Good Creator co. led by Sachin Bhatia, along with the International Business division, maximising the revenue potential for all beauty and personal care brands in the group.

“This consolidation unlocks structural efficiencies within each division while also driving cross-division revenue synergies, which will allow each division to be independently profitable,” it added.

Group Founder & CEO Darpan Sanghvi said this move is a part of the company’s efforts to create a consolidated group structure which allows not just for structural and cost efficiencies but also significant revenue synergy opportunities. “With most of the Series D fundraising capital still in the bank, we have set ourselves an ambitious revenue run rate target of $400 million by March 2023 for the current organic business with a clear mandate to be profitable,” he added.

The international division will be led by industry veteran Asad Raza Khan, who has been appointed Global Commercial Officer, the Good Glamm Group. Mr. Khan has over 17 years of experience at Procter & Gamble with stints in London, Geneva, Dubai and South Asia. In his last role, he led and built Art of Shaving’s global business and operations outside of the USA.

The Good Glamm Group has earmarked ₹100 crore investment for international expansion, and over the next three months various brands of the group will be unveiled in international markets.


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Printable version | Oct 2, 2022 3:34:07 pm | https://www.thehindu.com/business/good-glamm-group-restructures-business-announces-international-division/article65608311.ece