Good Glamm Group has carved a niche for itself in the crowded direct-to-consumer (D2C) market. By leveraging 3Cs – content, commerce and creator – it has become India's first digital FMCG conglomerate. In November 2021, Good Glamm Group added another feather to its cap by becoming India's first beauty commerce startup to turn a unicorn after it raised $150 million in a Series D funding round led by Prosus Ventures (Naspers) and Warburg Pincus.In a conversation with Entrepreneur India, Darpan Sanghvi, group founder and CEO, Good Glamm Group shares his journey from then on and talks about the latest developments in the beauty and personal care space, its future in India, his business moat and future plans.
The next wave in content to commerce
According to a KPMG report, there are over 800 successful D2C brands in India today, with a sector valuation of $44.6 billion (as of 2021). Talking about how the space has become massive, Sanghvi said, "About five years ago, people started believing that brands can be created digitally. That's how D2C revolution really started, with young brands that are closely connected with the customer starting to come about." "As you start doing D2C brands you have two options, either sell on your own website, or on marketplace or both. What brands are realizing very quickly is that if I want to sell on my own website, it's very expensive to get traffic onto my website. That seemed a more inexpensive proposition. On your own website, you don't pay commissions and the margin is high, but you then have cost of getting people there," he added
This story is from the September 2022 edition of Entrepreneur magazine.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the September 2022 edition of Entrepreneur magazine.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
THE SUBMERGED ADVENTURES
Spearheading GetVantage, one of the leading alternate financing companies in the country, Bhavik Vasa knows that sometimes entrepreneurial journey can get tough and stressful, but he has his own way of clearing his mind -- a few feet underwater.
Robust Charging Infra Key To India's EV30@30 Ambition
WHILE GOVERNMENT AIMS TO HAVE 30% OF 2030 CAR SALES AS EVS IN THE COUNTRY, THE VISION SEEMS UNATTAINABLE WITH JUST OVER 12,000 PUBLIC CHARGING STATIONS IN THE COUNTRY AT PRESENT.
OWNING A SLICE OF PROPERTY
Real estate is a critical component of one's portfolio as it provides income, capital appreciation, inflation protection, and diversification.
THE FUTURE OF FINTECH
It's all about setting the house in order
ETCHING SEMICON DREAMS
Historically concentrated in regions like the US, East Asia, and Europe, there's a rising interest in expanding semiconductor assembly and packaging capabilities to emerging markets like India.\"
6 Lessons I Learnt In My First Startup Venture
EVEN THOUGH YOU PICK A BIG MARKET, IT’S IMPORTANT TO PICK A SMALL SEGMENT OF IT TO FOCUS ON FIRST AND UTTERLY DOMINATE BEFORE YOU SLOWLY EXPAND.
How AI and ML are revolutionising healthcare industry
Al ALGORITHMS CAN NOW ANALYZE VAST AMOUNTS OF BIOLOGICAL DATA TO IDENTIFY POTENTIAL DRUG CANDIDATES, PREDICT THEIR EFFICACY, AND OPTIMIZE DRUG DISCOVERY PROCESSES.
5 Lessons I Learnt As An Entrepreneur Over The Last Decade
TODAY, WE ARE A PROFITABLE BUSINESS WITH 2.5 TIMES OF OVER PRECOVID BUSINESS VOLUMES.
Revolutionizing the two-wheeler industry with technology
TO CATER TO THE INCREASING DEMAND FOR TWOWHEELERS, THE INDUSTRY IS CONTINUOUSLY EMBRACING THE LATEST TECHNOLOGIES TO ENHANCE EFFICIENCY, PRODUCTIVITY, AND SUSTAINABILITY.
Who's Stealing Your Time?
Do you have less time for the things you love? You might be blaming the wrong people.