Good Glamm increases stake in The Moms Co to 90%
Beauty and personal care business Good Glamm has increased its stake in mother and baby care brand The Moms Co from 75% to 90%. The move comes as The Moms Co’s founders Malika and Mohit Sadani have stepped away from the business.
“We have taken our share up to 90% now,” said Good Glamm Group’s co-founder and CEO Darpan Sanghvi, the Economic Times reported. “The balance 10% we will buy out from them [the founders] next year. We want them to continue on the board and keep guiding. The same path continues with other brands like Sirona and Organic Harvest as well.”
Good Glamm operates as an umbrella under which it develops a range of direct-to-customer brands and expands their reach across India. The business runs a content-to-commerce platform and also has a segment of the business dedicated to digital media as well as to social media influencers.
The Moms Co is a direct-to-customer business which specialises in personal care and wellness products for mothers and their babies and young children. The business retails from its dedicated e-commerce store and taps into the booming mother and baby market in India, a trend which was amplified by the pandemic.
Good Glamm Group first acquired a stake in The Moms Co in 2021 at a valuation of Rs 500 crore. The Moms Co has since increased its monthly revenue run rate to approximately Rs 24 crore.
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