The Good Glamm Group, a once celebrated content-to-commerce startup valued at $1.2 billion, is now facing mounting financial strain as it grapples with unpaid salaries, delayed severance benefits and an exodus of top leadership.
According to individuals with knowledge of the situation, the Mumbai-based company has yet to fulfill salary payments, gratuity and variable compensation owed to employees it laid off in January. Roughly 150 workers across departments such as branding, sales, technology, and product development were affected. Furthermore, April salaries for current employees have been delayed, with payments now expected by the end of May or early June, sources said.
A liquidity crunch driven by ongoing fundraising efforts has exacerbated the company’s cash flow issues. As part of cost-cutting measures, The Good Glamm Group shuttered its office in Kurla West, Mumbai, and permanently closed its Delhi location in Vasant Kunj.
Several former employees say the company has declined to provide formal experience letters, citing pending internal clearances. In response, some ex-staffers have reportedly withheld company-issued laptops until they receive outstanding dues and documentation.
Founded in 2015 by Darpan Sanghvi, with Priyanka Gill, Naiyya Saggi, and Nowshad Rizwanullah joining later, The Good Glamm Group emerged as a pioneer in combining digital media with direct-to-consumer beauty sales. Backed by marquee investors such as Warburg Pincus, the company grew rapidly through acquisitions, including digital media platforms MissMalini Entertainment and ScoopWhoop, and personal care brand Sirona Hygiene.
But amid operational challenges, the company has been forced to offload assets at steep discounts. In 2024, the founders of Sirona repurchased their company. ScoopWhoop was sold to meme-marketing agency Wubba Lubba Dub Dub (WLDD) for reported Rs18–20 crore – far below its 2021 valuation. Last month, MissMalini Entertainment was acquired by Creativefuel.
The Good Glamm Group sells MissMalini Entertainment to Creativefuel
Meme marketing agency WLDD buys ScoopWhoop from The Good Glamm Group in all-cash deal
Meanwhile, governance and leadership have been in flux. Several independent directors, including Anand Daniel of Accel, Vishal Gupta of Bessemer Venture Partners, and Gaurav Kothari of Prosus Ventures, resigned from the board last year. Key executives also departed: Sukhleen Aneja, CEO of The Good Brand Co., joined Nykaa; co-founder Naiyya Saggi stepped back from executive duties to launch a new venture; and Priyanka Gill left in early 2024 to join Kalaari Capital before founding Coluxe, a lab-grown diamond brand expected to launch in June.
With mounting liabilities and deferred payments to vendors and founders of its acquired firms, insiders estimate that The Good Glamm Group now needs between Rs250 crore and Rs500 crore to stabilize operations.
Good Glamm Group announces board restructuring amid fundraise