Good Glamm Group acquires majority stake in Organic Harvest, to invest additional Rs 75 cr

PTI | New Delhi | Updated: 23-01-2022 20:13 IST | Created: 23-01-2022 20:13 IST
Good Glamm Group acquires majority stake in Organic Harvest, to invest additional Rs 75 cr
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Good Glamm Group, a content-to-commerce conglomerate, on Sunday said it has acquired a majority stake in beauty and personal care brand Organic Harvest, for an undisclosed amount.

Good Glamm will invest an additional Rs 75 crore in growing the brand.

The transaction marks the foray of Good Glamm Group in the organic BPC category, according to a statement.

''Organic Harvest has predominantly been an offline first brand. Now, as part of the Good Glamm Group, Organic Harvest will be able to leverage the group's large digital audience,'' Good Glamm Group Group Founder and CEO Darpan Sanghvi said.

He added that Organic Harvest will have access to data-driven insights from the group's content platforms into what consumers are looking for along with a strategic approach towards influencer marketing with Good Creator Co's full stack of influencer marketing services and solutions to create meaningful campaigns with measurable ROI.

Sanghvi also said these campaigns will be integrated into Organic Harvest's product development engine to accelerate the creation, launch and marketing of products across the skin and personal care.

Started in 2013 by Rahul Agarwal, Organic Harvest will continue to work as an independent entity.

''Organic Harvest has over 700 employees. Yes, all of them have been absorbed in the company. The Good Glamm Group-Organic Harvest partnership came about on a shared vision to leverage content-to-commerce to exponentially grow the organic BPC (beauty and personal care) category.

''To scale this further, Good Glamm will be investing a further Rs 75 crore in growing the brand,'' Organic Harvest CEO Rahul Agarwal said.

He added that Organic Harvest has a current revenue run rate of Rs 75 crore and is targeting a revenue run rate of Rs 250 crore by March 2023.

Agarwal will work closely with Darpan Sanghvi, Priyanka Gill and Naiyya Saggi, co-founders of Good Glamm Group along with Sukhleen Aneja (CEO Beauty and FMCG Brands at Good Glamm Group) to accelerate Organic Harvest's presence in India and globally.

This acquisition is a continuation of the Good Glamm Group's approach to acquiring innovative and fast-growing beauty brands in important categories of BPC, and powering them by a content-to-commerce strategy.

Brands that are associated with Good Glamm Group include MyGlamm, POPxo, Plixxo, BabyChakra, The Moms Co, ScoopWhoop, St Botanica, MissMalini Entertainment, Sirona Hygiene, Vidooly and Winkl.

Earlier this month, Plixxo, MissMalini, Winkl and Vidooly were spun off from Good Glamm Group. And, Good Creator Co, India's largest creator ecosystem, was launched.

The Good Glamm Group's current revenue run rate is at about USD 150 million and is projected to touch USD 250 million by March 2022. It has completed acquisitions worth USD 270 million in 2021 using a combination of USD 100 million cash and balance in stock swaps and earnouts.

It is targeting IPO in FY23-24. In November 2021, Good Glamm Group entered the unicorn club with a valuation of USD 1.2 billion and raised USD 150 million from Warburg Pincus and Prosus Ventures.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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