Takeover frenzy: India’s The Good Glamm Group steps up acquisition activities as it eyes IPO by 2024

The firm recently took a 51% majority stake in digital media company Tweak India, adding to its portfolio of beauty and personal care brands that are powered by a robust digital ecosystem of content creators.

Following the acquisition, Tweak India will function under The Group’s digital media division, The Good Media Co. Its founder, Indian actress and author Twinkle Khanna, has reprised her role as CEO.

“Joining hands with Tweak will give us greater access to women in their mid-20s, a demographic that we were not effectively reaching previously. Furthermore, Tweak’s audience of 6 million monthly active users and 15 million monthly impressions will augment our direct-to-consumer capabilities,” ​said Priyanka Gill, co-founder of The Good Glamm Group and CEO of The Good Media Co.

On the other hand, Tweak is looking to leverage The Good Media Co’s technological expertise and data assets to strengthen its video production capacity.  

“Because we run our own studios, we create a lot of videos every month. Tweak is keen to work with us on that. As they currently only produce content in English, our multilingual team will also help them create videos in Hindi so that they can reach out to a much bigger audience across the country,” ​Gill added.

Complementary capabilities​

The five platforms under The Good Media Co — namely POPxo, ScoopWhoop, BabyChakra, MissMalini Entertainment and Tweak — function independently, while sharing data to attract and engage users.

In total, the platforms generate over 4 billion monthly impressions and receives over 200 million unique users every month. This reach is among the largest for any e-commerce or digital media company in the country.

Each platform produces various types of content, such as articles, videos, social media posts, memes and influencer content, to promote products under The Good Brands Co division. These include their best-selling beauty brand MyGlamm, as well as Sirona, a leader in India’s personal hygiene market.

At the same time, the five platforms also amplify the influencer reach and activations of the Good Creator Co division, which has more than 250,000 creators onboard and tracks as many as 1.5 million influencers.

“The content-to-commerce strategy eases the biggest pain point when building a brand — marketing costs. Most companies spend a lot of money on Facebook and Google advertisements. As the digital media brands are owned by us, we are able to reach out to consumers directly, thus dramatically lowering our marketing costs. Moreover, we can utilise our creators to drive awareness and sales of our products via social media. These have been crucial in reducing Customer Acquisition Cost, or CAC, for all our brands,” ​Gill explained.

Filling gaps​

The Group’s massive acquisition moves since August 2020 are part of its big picture to address specific gaps in their user base or product portfolio.

Next on its wish list is a male personal care brand.

“Even though we have ScoopWhoop, which is a male-content platform, we are still lacking a men’s personal care or grooming product line. In fact, we have been looking to add a good brand to close the gap. Apart from that, we are open to any opportunities that can help us grow faster,” ​said Gill.

In October 2022, The Group set foot in the Middle East, where a team based in Dubai has established distribution partnerships with some of the main retailers there. Sirona and mother and baby care brand MomsCo were the first to roll out in the region, with the remaining brands to follow suit in the near future.

“While 2020 was a year of acquisition for us, the past two years have been a period of consolidation, as we saw how the different companies fit into the vision of The Group. We are looking forward to scaling profitably in 2023, and to potentially launch an IPO by the end of 2024,” ​Gill revealed.