Multi-brand beauty and lifestyle e-commerce platform Nykaa and content to commerce unicorn Good Glamm Group are in a race to acquire MensXP, according to three people aware of the conversation.
“Good Glamm Group has been in talks with MensXP since January while Nykaa began a take-over conversation four-five weeks ago,” said one of the people cited above requesting anonymity. “Both companies [Nykaa and Good Glamm Group] have shown strong interest in MensXP and are close to offering a final deal.”
According to sources, Times Internet-owned MensXP has been up for acquisition for the past six months and one of these two bidders is set to acquire it.
Nykaa has been beefing up its offering for men and now it sells Sherwanis, T-Shirts, watches and bags among others. “Nykaa believes that MensXP has a significant reach amongst the millennial class and its content could help it to cross-sell fashion and lifestyle products,” said the second person who also wished not to be named.
Founded in 2009 by Angad Bhatia, MensXP was acquired by Times Internet in 2012. Post-acquisition, it had remained a lifestyle content platform until 2018-19. However, the company dabbled into content commerce play. At present, it claims to have over 700 direct to consumer brands on its platform that drive 5,000 transactions a day.
Good Glamm has been aggressive when it comes to acquiring lifestyle and entertainment content platforms. Its content centred acquisition portfolio consists of MissMalini, ScoopWhoop, BabyChakra et al.
“As of now, most of Good Glamm Group’s acquisitions strategy focused on women but it also wants inroads into the male segment. Hence, there is a strong interest in MensXP,” said the person mentioned at the beginning of the story.
To build up its male-focused portfolio, Good Glamm Group is in late-stage talks to acquire men’s grooming brand Ustraa. Entrackr had exclusively reported about the potential deal on April 1.
Part of the lifestyle group of properties, along with Indiatimes, iDiva, Times Prime, Whats Hot and Speaking Tree, revenues if any from MensXP are not available currently.
A Nykaa spokesperson said that currently there is no such matter under discussion while queries sent to MensXP and Good Glamm Group didn’t elicit any immediate response. We will update the story as and when they respond.