South Asia's largest content-to-commerce group, Good Glamm has reportedly acquired a major stake in organic beauty & personal care brand, Organic Harvest.
Under the deal, Good Glamm will be investing around Rs 75 crore ($10 million) to further expand the brand. However, Organic Harvest will continue to be functioning as a self-governing entity after the deal.
Organic Harvest, started by Rahul Agarwal in 2013, is a firm that is Ecocert certified. Being a part of Good Glamm, the firm will be able to use the group's digital audience, which consists of 100 million users of ScoopWhoop, 88 million POPxo yearly users, and 10,000 doctors' network and Baby Chakra's 20 million mother's community.
Organic Harvest can also benefit from the 50,000 offline points of sale across 150 cities of Good Glamm Group.
Rahul Agarwal, CEO of Organic Harvest, said that it was always about captivating the idea of organic personal care products to the considerable mass population of India and around the world for the firm.
Through this partnership, the firm aspires to become the world's main organic personal care company, which appears to be reachable easily.
The Good Glamm Group includes a portfolio of exclusive beauty and personal care products with a digital ecosystem of community, content, and creator assets.
This acquisition marks the continuation of the group's strategy to buy fast-growing beauty brands in multiple beauty and personal care categories.
It also has St. Botanica, a skin and hair care brand besides D2C mother and baby care brands The Moms Co under its umbrella. The group has acquired nine companies in the last few months, with the recent ones being Vidooly and Winkl which operate in the influencer management space.
The Good Glamm Group, valued at around $1.2 billion, is backed by investors, including Prosus Ventures, Bessemer Venture Partners, Warburg Pincus, and Accel.
Source credit - https://www.moneycontrol.com/news/business/startup/good-glamm-group-acquires-majority-stake-in-organic-harvest-to-invest-rs-75-crore-7972191.html