Good Glamm signs Rs 100 crore deal for majority stake in Sirona

By

Isabelle Crossley

Published
Dec 21, 2021

Beauty brand MyGlamm’s parent entity Good Glamm Group has acquired a majority stake in feminine hygiene startup business Sirona for Rs 100 crore ($15 million). 

The all-cash deal saw Sirona’s early backers leave and Good Glamm Group commit to injecting a further Rs 100 crore of primary investment into the business.

“Over the next three years, Good Glamm will complete the purchase of further stake to gain 100% control over the entity,” Good Glamm’s founder and chief executive Darpan Sanghvi told the Economic Times in an interview. 

“We are growing steadily and are currently clocking Rs 75 crore of revenue run rate,” said Sirona’s co-founder and CEO Deep Bajaj, the Economic Times reported. In the coming three years, the business aims to reach a revenue total of Rs 500 crore. 
 
Good Glamm sees the menstrual hygiene market as having strong growth potential and its acquisition of Sirona marks its entry into the female hygiene segment. The business also plans to tie-up with influencers to raise awareness in the space.
 
Deep Bajaj and Mohit Bajaj launched Sirona in 2014 as a line of products designed to improve menstrual hygiene and comfort including herbal pain relief patches, menstrual cup kits, and degradable sanitary pads, among other products, including haircare and skincare ranges. The business raised $3 million in its Series A funding round in April this year and has made a profit for the past three years.