Sirona buys back brand from The Good Glamm Group

Sirona, previously acquired by the Good Glamm Group, has repurchased the brand to operate independently. This marks a rare instance of a startup reclaiming its brand post-acquisition.

“For two years, we nurtured the brand with GoodGlamm before stepping away. We had a good run together, with its highs and lows. But with Good Glamm’s changing priorities, we felt the best way forward was to reclaim the brand and lead its next phase of growth ourselves,” said Deep Bajaj, co-founder of Sirona in a Linkedin post.

The development comes four months after The Good Glamm Group announced the full acquisition of Sirona Hygiene for Rs 450 crore (approximately $60 million) in an all-cash deal.

Six months before the final transactions, Sirona's co-founders, along with The Moms Co and the Indian Angel Network (IAN), reportedly filed a default notice against The Good Glamm Group for failing to make the final payments related to the acquisition.

According to media reports, the repurchase is primarily financed by the personal capital of Deep and Mohit Bajaj. According to sources, the buyback will be a fire sale.

The Good Glamm Group did not comment on the story.

Founded in 2015, Sirona provides innovative feminine hygiene products, including PeeBuddy (a stand-and-pee device), herbal period pain patches, menstrual cups, period stain removers, anti-chafing creams, and sanitary disposal bags.

Over the past year, Good Glamm has faced financial challenges, including salary delays and layoffs. Media reports also suggested that the group is now negotiating a funding round at a significantly lower valuation.

The Delhi-based firm became a unicorn in 2021 with a $250 million funding round.

Last month, 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.