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
This story is from the September 2022 edition of Entrepreneur magazine.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the September 2022 edition of Entrepreneur magazine.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Chords of Success
For Saahil Goel, the deep-rooted passion for playing the guitar dates back to his high school days. Influenced by legends like Pink Floyd, Led Zeppelin, and the Pakistani band Strings, his musical journey mirrors his leadership style-balancing focus, discipline, and a collaborative spirit. Goel feels that playing guitar has enhanced his ability to balance focus and teamwork as a founder of an eCommerce shipping start-up.
IS YOUR RENT TOO DAMN HIGH?
Many small business owners struggle with their rents. Here's what to do.
HOW TO BOUNCE BACK FROM A BAD REVIEW
A one-star review can hurt your ego - and your business. But it's possible to prevent (and remedy!) this scary scenario.
HOW TO HIRE FOR THE FUTURE
Small businesses are struggling to find quality labor. So flip the conversation: Show workers how your business will set them up for opportunity.
You Can Hire Like Netflix
The streaming platform built an incredible team with a strategy called “talent density.” But you don’t need to be a tech giant to do it.
Speedy Growth Killed My Startup
We seemed to be rocking it - lots of press, major partnerships. Then we learned the harsh consequences of overlooking our customers.
Three Pivots to $100 Million
How do you find a working business model? Do it like Rowan-a brand that reinvented itself many times before finally piercing the ear-piercing market.
What Goals Actually Matter?
Some benchmarks are more important than others so what should you really care about? We asked six founders for their hardest-won lessons.
'Only the Strongest Are Going to Survive'
Brian Lee cofounded companies like LegalZoom and ShoeDazzle-and he believes a lot of conventional business wisdom is backward. Sure, it's harder to raise capital. But it's actually cheaper than ever to start a company.
HOW TRUST SAVED KFC
The former CEO of Yum! Brands explains how he turned around a struggling KFC-and the important lesson it offers for anyone in franchising.
