Sirona returns to its founders after buyback

Sirona co-founders Deep Bajaj and Mohit Bajaj have repurchased the feminine hygiene brand from The Good Glamm Group, financing the buyback primarily through personal capital. The transaction includes the repayment of debts incurred during Sirona’s time under Good Glamm’s ownership.

The move follows reports that the co-founders were in the final stages of negotiations to reclaim the brand. Announcing the acquisition, Deep Bajaj stated in a LinkedIn post, “We have officially bought back Sirona. We still have more to contribute to the feminine hygiene space. And this time, we return with the same passion, a bit more wisdom, and an even bigger vision to create a meaningful impact.”

Bajaj further emphasised that their objective was not simply to sell, profit, and move on. “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.”

Mumbai-based Good Glamm Group acquired Sirona in October 2024 for INR 450 crore. However, since then, Sirona’s sales have declined to one-eighth of its peak monthly run rate of INR 12 crore, leading to uncertainty among vendors and the Sirona team amid a shortage of fresh funding.

Over the past year, The Good Glamm Group has faced multiple challenges despite its ambitious claims of profitability, plans for an initial public offering, and global expansion. The company has struggled to meet expectations, receiving default notices from investors, including the Indian Angel Network and the founders of Sirona and The Moms Co. It has also experienced the exit of Good Brands Co. CEO Sukhleen Aneja, placed several brands up for sale, and conducted multiple rounds of layoffs.

In January, the company reportedly delayed salary payments due to a funding crunch, impacting a section of its employees. While it cleared salaries for 85% of its workforce, higher-earning employees received only partial payments, with the remainder promised by the end of the month. By October, reports indicated that the company had put at least three of its brands up for sale to remain financially viable.

Good Glamm Group, in its current form, was established in September 2021 through the merger of MyGlamm, POPxo, and BabyChakra. The unicorn has since acquired nearly a dozen brands, including ScoopWhoop, Organic Harvest, and Sirona. .