Direct-to-consumer (D2C) unicorn Good Glamm Group is about to close the Series E funding round, co-founder Naiyya Saggi revealed in an interview with CNBC-TV18. “… (this) will take us right up to the IPO (initial public offering), which we are looking at in Diwali 2025,” Saggi told CNBC TV18.
The D2C startup, last valued at $1.2 billion in November 2021, is trying to build both its brands and bottom line in its final lap before the IPO.
While targeting profit before June 2024, the company has recently partnered with Karan Johar’s Dharma Productions.
Dharma might be the first of many such tie-ups for the nine-year-old Good Glamm. “There are some exciting announcements on an international level that are going to come out soon,” Saggi added.
Good Glamm, which has, so far, relied on social media and influencers to promote its brands, has made an interesting turn towards Bollywood.
“Beauty brands collaborating with movies gain extensive exposure and global reach, as their products are showcased on the big screen to a diverse audience. This association enhances the brand image, aligning it with the glamour and creativity associated with the film industry,” Saggi explained.
While Dharma is synonymous with big-budget blockbusters featuring the most popular stars that Bollywood has to offer, none of Karan Johar’s last five theatrical releases have had the cult following or social recall that his films are known for.
Good Glamm will also find space at premieres, there will be joint marketing campaigns, and the startup will be able to create spin-out content like reels and memes based on content from the movies — including integration in behind-the-scenes videos — they have partnered with.
The beauty products maker may choose to create makeup looks, and limited-edition collections, inspired by the film.