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
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