Good Glamm Group to be split up as lenders enforce brand-wise sale

The Good Glamm Group, a once-celebrated digital-first beauty and personal care company, is being broken up after lenders decided to enforce their charge on individual brands, effectively ending the company’s unified structure.

Founder Darpan Sanghvi confirmed the development in a letter to stakeholders, marking a turning point in the firm’s ongoing restructuring efforts.

According to a LinkedIn post shared by Sanghvi, no group-level solution emerged despite months of attempts, including potential refinancing, partial brand sales, and strategic investments. Good Glamm’s lenders have now moved to sell the company’s portfolio brands separately, with each expected to find its owner and operate independently going forward. “Is this what I hoped for? No. Is this unexpected? Also no,” Sanghvi wrote, accepting full responsibility for the outcome. “As the founder, this is on me.”

Good Glamm had once been on track to become one of India’s most promising new-age digital FMCG companies, with a portfolio including MyGlamm, The Moms Co, Organic Harvest, and others. But rapid expansion, high burn, and mounting liabilities eventually led to cracks in the model. The situation has now reached a stage where the group entity will cease to exist in its current form.

For context, the group has already sold Miss Malini, Sirona, and ScoopWhoop in a fire sale. According to media reports, The Moms Co, Organic Harvest, and St. Botanica are also up for sale.

In a personal commitment, Sanghvi pledged that if dues remain unsettled even after the brand-level asset sales, he will allocate 25% of his future post-tax earnings from salaries or equity gains to repay impacted employees. He plans to set up a system to track and execute this pledge in the coming months.

He also announced the creation of a Good Glamm Restitution Fund, which will be constituted within the next 60 days. It will receive equity from Sanghvi’s future ventures and be used to compensate unpaid dues to vendors and investors affected by the breakup. “It’s not a burden, it is a responsibility,” he said, describing the commitment as lifelong.

Sanghvi acknowledged the broader implications of failure and expressed hope that his experience would offer lessons for other entrepreneurs. “Maybe it’s time we created more space for these conversations—to learn, to grow, to support one another,” he wrote.

The Delhi-based firm became a unicorn in 2021 with a $250 million funding round. Since then, it has raised $30 million in a bridge round in March last year.

Earlier this year, the Good Glamm Group saw the exit of key representatives, including Anand Daniel (Accel Partners), Vishal Gupta (Bessemer), and Gaurav Kothari (Prosus Ventures), who resigned as independent directors.