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Good Glamm Group acquires MissMalini Entertainment in its first personality-driven brand acquisition

Good Glamm Group acquires MissMalini Entertainment in its first personality-driven brand acquisition

The deal is a stock-cash mix transaction which will result in Malini Agarwal, founder of MissMalini, and Nowshad Rizwanullah, co-founder and CEO, becoming shareholders of Good Glamm Group.

(L-R) Darpan Sanghvi, CEO of Good Glamm Group and Malini Agarwal, founder, MissMalini (L-R) Darpan Sanghvi, CEO of Good Glamm Group and Malini Agarwal, founder, MissMalini

Content-to-commerce unicorn Good Glamm Group has acquired MissMalini Entertainment in its first personality-driven brand acquisition. This is the seventh brand to become a part of the Good Glamm Group. The acquisition is part of its plan to create South Asia's biggest personal and beauty care conglomerate, according to Darpan Sanghvi, CEO of the Good Glamm Group.

The deal, which is one of the largest buy by the company so far, is a stock-cash mix transaction which will result in Malini Agarwal, founder of MissMalini, and Nowshad Rizwanullah, co-founder and CEO of MissMalini, becoming shareholders of Good Glamm Group, Sanghvi told BusinessToday.in in an exclusive interaction.

MissMalini, which started as a lifestyle blog in 2008, is now accessible to 60 million users with an umbrella of girl community app (Girl Tribe), MissMalini Media (influencer and content marketing), Ignite Edge (talent management), and Agent M Creative (creative agency). Besides, MissMalini's Bollywood outreach is one of the most significant aspects of the group's acquisition by the Good Glamm Group.

"Bollywood is in our blood and we have been able to nurture solid relationships with actors who also consider themselves as content creators. We have been very lucky that the celebrities don't mistrust our brand like other entertainment outlets. With the acquisition by the Good Glamm Group, we expect to be able to deliver top Bollywood content across various platforms of Good Glamm, including ScoopWhoop, Plixxo," Agarwal told BusinessToday.in.

Sanghvi said that India's usage of personal care and beauty products is hugely influenced by Bollywood. "We are already partnering with Manish Malhotra, actress Shraddha Kapoor is an investor in our business besides Kareena Kapoor endorsing our D2C brand St. Botanica products. With MissMalini acquisition, we only aim to get a more stronger understanding of the Bollywood and leverage it to drive the brands and content both," he said.

MissMalini will continue to operate as a separate entity after the acquisition. "While I will continue to spearhead MissMalini's creative operations, I am super excited to launch new initiatives in the future with G3 co-founders Darpan, Priyanka and Naiyya and all the other fabulous companies that are joining the group. These are incredibly talented entrepreneurs and I'm honoured to join such a fabulous crew!" Agarwal said in a statement.

Listen to Malini Agarwal speak on how MissMalini brings the Bolly quotient to GoodGlammGroup and how her equations with Bollywood stars will benefit the group's growth plans.

India has a growing base of content creators/ influencers at over 40 million, which is driving the purchasing behaviour as well as content consumption of nearly 500 million smartphone users. The Good Glamm Group wants to strengthen its position in this segment.

With a vision to become the 'Global Digital first FMCG Conglomerate of the Future', the Good Glamm Group brings together multiple brands that millions of users love. Brands under the Good Glamm Group umbrella can leverage the large digital audience comprising the Group's 3.5 billion monthly impressions, 88 million POPxo users, 100 million ScoopWhoop users, BabyChakra's 20 million mothers' community with over a 10,000 doctors network, and 220,000 Plixxo Influencers.

Last month, the Good Glamm Group raised $150 million in a Series D round led by private equity investors Prosus Ventures (Naspers) and Warbug Pincus, along with participation of various other investors.

Also Read: Good Glamm becomes 35th Indian unicorn of 2021 after $150-mn fundraise by Warburg Pincus, Prosus Ventures

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Published on: Dec 13, 2021, 7:57 PM IST
Posted by: Mohammad Haaris Beg, Dec 13, 2021, 7:44 PM IST