In an attempt to find a solution, Sanghvi turned to the content-to-commerce model. That’s when we realised it was time to solve the CAC problem,” recalls Sanghvi. We were spending about $0.5 million to acquire 30,000 customers a month. “Around the same time, our revenue run rate was Rs 100 crore. Towards the end of 2019, the company was spending about $15 (over Rs 1,000) to acquire a customer to transact on their website. “This strategy worked super well for us, our repeats were fantastic and customers were loving our product,” he says.īut the biggest challenge with being a DTC brand is its customer acquisition cost (CAC). In having a customer transact directly on the platform, Sanghvi claims they understand the customer better and create products that are relevant for them. We believed that to own the customer, the transaction needs to happen on our own platform.” However, Sanghvi believed, “We always wanted to be truly DTC and not just digitally enabled. Most brands at the time were big on selling on marketplaces such as Amazon or Nykaa. Growth story: MyGlamm to The Good Glamm GroupIn October 2017, Darpan Sanghvi launched direct-to-consumer (DTC) beauty brand MyGlamm. The deal has been in talks for a while, it is being renegotiated, and as per the current market situation Good Glamm is looking at a deal size of Rs 2,000 crore for the acquisition. If this deal closes, it will be The Good Glamm Group’s entry into the grooming and sexual wellness segment. The group is also in talks with the Raymond Group for an acquisition of its consumer care portfolio-Park Avenue and Kamasutra, stated a source with information on this deal. We aspire to build our brands across offline channels, e-marketplaces, and DTC via leveraging the growth and digital marketing capabilities of the group already in place,” says Khan. “The international division gives Good Brands Co an opportunity for global growth. ![]() The second major announcement of setting up an international division for Good Brands Co-which will be led by Asad Raza Khan, global commercial officer-was always part of the core team’s long-term vision. Good Brands Co is the revenue driver, with a focus on acquiring more customers and generating revenue in a cost-effective way Good Media Co will focus on digital reach and engagement and Good Creator Co will help influencers make money, of which the company takes a commission. The core functions are being integrated between companies in each division which has led to efficiencies and removes duplication,” says Priyanka Gill, co-Founder, The Good Glamm Group.Ĭontent is the key to the kingdom, as competition intensifies amid new-age brandsĮach of these verticals have their own metrics and very different objectives-but are interconnected in their way of functioning. “We are consolidating the overall structure of the group to reflect our content-creator-commerce strategy. The group has now been divided into three core segments-Good Brands Co, comprising all its DTC beauty and personal care brands Good Media Co, which will look at all its digital media brands and influencer platform Good Creator Co. On July 6, the content-to-commerce conglomerate announced the launch of its international division and overall group structure to build revenue synergies from all its acquisitions. ![]() Over the last year, The Good Glamm Group has been on an acquisition spree with 11 acquisitions. (from Left) Naiyya Saggi, Co-Founder, Good Glamm Group founder & CEO, Bab圜hakra Darpan Sanghvi, founder & group CEO, Good Glamm Group founder & CEO, MyGlamm and Priyanka Gill, co-Founder, Good Glamm Group, founder & CEO, POPxo & Plixxo She loves trekking and travelling, experimenting in the kitchen, watching films and reading. Be it at work or home, you will not find her working without her headphones and work playlist. An avid learner, she has completed her PGDM in Journalism from Xavier Institute of Communication and Bachelorâs of Mass Media from Sophia College for Women in Mumbai. Naini is a part of Forbes Indiaâs digital team, also handles Forbes Indiaâs Instagram account and helps plan events. She also emcees at events and moderates panel discussions from time-to-time. With five years of work experience, she co-produces Forbes Indiaâs video series âFrom The Fieldâ and hosts the podcast âTeenpreneursâ. ![]() Before her stint at Forbes India, she worked for close to a year at Outlook Business. She writes on various topics ranging from innovation and startups to cryptocurrency and agricultureâanything and everything that makes for an interesting story. Naini is a writer at Forbes India, who likes to dabble in storytelling across all forms of media.
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