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Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.Īs we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content.
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Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Investors in MyGlamm include L’Occitane, Bessemer Venture Partners, Amazon, Ascent Capital, Wipro, the Mankekar family and Tano Capital which enables them to leverage deep industry and technology expertise.īusiness Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. MyGlamm uses a combination of technology, content and social media to allow consumers to not only discover its products but also create a rich, personalised, content and tutorial fuelled post-purchase experience through its App.
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MyGlamm has over 10,000 offline points of sales across 70 cities of India. With over 600 SKUs across makeup, skincare and personal care. The MyGlamm-POPxo-Plixxo combine, is the largest Content to Community to Commerce platform in India with 88 million annual female users, with 1.5 billion annual video views and 150,000 influencers onboarded. These strategic moves resulted in the brand ac Simultaneously MyGlamm doubled down on its offline strategy and grew offline point of sales from 500 to 10,000 during Covid, and further went on to open the largest beauty store in India. With those funds, MyGlamm made some bold moves and July 2020, MyGlamm acquired POPxo-Plixxo making the MyGlamm-POPxo-Plixxo combined, the largest Content to Community to Commerce platform in India with 88 million annual female users, with 1.5 billion annual video views and 150,000 influencers onboarded. With a 1000 employees with nothing to do and revenue down to zero due to the lockdown, the brand reached out to their existing investors - L’Occitane and Bessemer Venture Partners, who stepped in and provided emergency funds. The brand was stuck with no money and had $20 million of unsold inventory, with payables of $5million and pending orders of another $20 million of inventory. Three days before the closing, India went into a lockdown and the fund leading the fundraise pulled out.
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Last year in March 2020, MyGlamm was supposed to close its Series C fundraise. We are excited to welcome Shraddha as an investor in MyGlamm and join us on this journey of creating India’s largest beauty company leveraging content, community and commerce.” Says Darpan Sanghvi, Founder and CEO, MyGlamm. At MyGlamm we are building great products by connecting with our consumers digitally and understanding what they want. “We have always admired Shraddha, how she connects and resonates with her over 60 million Instagram followers.
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