Content-to-commerce unicorn the Good Glamm Group is planning to launch an initial public offer (IPO) that could happen as early as 2024, the company's co-founder Naiyya Saggi told Business Today. Speaking on the sidelines of BT@100 conclave, she stated that the group could be listed in India, given the consumer behaviour.
"We are looking at a potential listing in 20(24). Till then, the efforts are going to be that we want to be a very cash-rich company. We've been focussing on growth and the journey, which would remain our focus for the next year and a half. We want to list in India. India has some of the richest consumer multiples. It is a place where we've built out our brands. People know us and they are familiar with our brands. Nykaa has shown us the story of success and demonstrated strength, post-IPO as well. So, this is the plan so far," Saggi said.
MyGlamm, POPxo-Plixxo and BabyChakra came together under one umbrella to form The Good Glamm Group, the digital-first FMCG content-to-commerce brand.
On the journey of becoming a unicorn, she said, "That happened last Diwali, one of the best Diwali gifts you can give to the team and yourselves. It was the Warburg funding ($150 million) which made us into a unicorn. Right now, we are not looking for any specific acquisitions, except in two areas: one is male grooming space and second is an offline play."
Saggi also said, "A journey of entrepreneurship is a journey of ups and downs. But one of the biggest milestones for all of us is just to see such amazing founders come together and subscribe to a common vision."
Sharing the company's future targets, she said, "The Middle East is actually our first foray (in the international market). Interestingly, we are starting offline first and then going digital. We have an office in Dubai. The foray into the international market has already started and we are also looking at other geographies to see where the next play can be. And, we would be making an announcement very soon. This year is the year of consolidation and integration. Next year is the year of (going) international."
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