Good Glamm Group shuts down one-brand umbrella, begins sell-off

Content-to-commerce startup The Good Glamm Group (GGG) is officially dismantling its unified house-of-brands model after lenders moved to enforce claims on individual assets, CEO Darpan Sanghvi confirmed in a public note on July 23. The move marks the formal collapse of the Prosus and Warburg Pincus-backed firm’s integrated strategy, following months of restructuring efforts and distressed negotiations.

The group, once valued at $1.26 billion, will now sell its brands individually, with each to operate under new ownership. “There will no longer be a group-wide solution… Instead, the brands will be sold one by one,” Sanghvi said.

The group's unraveling follows an extended period of mounting debt and high cash burn, with liabilities owed to lenders including Stride Ventures, Trifecta, Alteria Capital, and others. The company had reportedly been in talks with Gujarat-based Veloce Fintech to raise capital at a lower valuation in a potential down round.

Some brand exits have already been executed: women’s wellness brand Sirona was bought back by its founders in a distress sale, ScoopWhoop was offloaded for Rs 18–20 crore, and media subsidiary Miss Malini is in advanced sale talks for Rs 4 crore, a steep drop from its 2021 acquisition cost of Rs 70–80 crore.

Sanghvi, who founded MyGlamm in 2017 before merging it into Good Glamm Group, took full responsibility for the failed strategy and pledged personal restitution. He committed to directing 25% of his post-tax earnings from future ventures towards unpaid dues and announced plans to establish a Good Glamm Restitution Fund within 60 days.

At its peak, GGG spanned three key divisions: The Good Brands Co (housing MyGlamm, St. Botanica, The Moms Co, and more), The Good Media Co (including POPxo, Miss Malini, ScoopWhoop), and The Good Creator Co. However, the group has faced delays in vendor payments and paused expansion plans amid financial turmoil.

“I never sold a single share… I was convinced we would build this into one of India’s most celebrated IPOs,” Sanghvi wrote. “But today, that fear, that dread, has become my reality.”