New Delhi : The Good Glam Group, dealing in media, consumer goods and content creation, will prioritize its bottom line to target a public market listing within two years, according to a top company executive.
“2020-21 marked the year of acquisitions, while 2022 focused on implementing, consolidating processes and adding structure. “In 2023, we aim to become profitable as a venture,” said Priyanka Gill, co-founder of The Good Glam Group, in an interview with Mint, in preparation for listing the company in the next two years.
Over the past two years, the group has acquired several media and consumer brands, including The Moms Company, Organic Harvest, Sirona, St. Botanica and BabyChakra. In December, it bought 51% stake in Twinkle Khanna’s media company Tweak India and will acquire digital media and content platform ScoopWhoop in 2021.
Good Glam Group operates four divisions including The Good Brands Company, which houses the direct-to-consumer beauty and personal care brands MyGlamm and St Botanica.
The Moms Company, Organic Harvest, Sirona and BabyChakra. Gill leads the various media platforms of The Good Media Company, some of which have been acquired by the company, such as POPxo, ScoopWhoop, MissMalini, BabyChakra and Tweak India. It also operates influencer platform The Good Creator Company, which tracks 1.5 million influencers in addition to the Good community. GMC has 250 million monthly active users across all platforms, delivering over 3 billion engagements per month
Several large startups have either shelved their stock market listing or reduced the size of their IPOs in the past few months, as well as subdued market conditions.
Gill said the company will largely follow the internal timelines it has set to hit the public markets but it continues to evaluate the market. “We have always said that it will happen around that time, and certainly, it is not set in stone. When it comes to deciding the timing for the listing, of course we will look at the market,” Gill said. Will evaluate very closely.
In March this year, the Good Glam Group also formed a joint venture with Akshay Kumar to launch personal care and wellness products for men. The company had then said that both Kumar and the Good Glam Group would invest capital and work together to grow the business. The company may look at more such experiments where it works with celebrities to launch co-branded products.
Meanwhile, commenting on any future investment in media platforms in India, Gill said the company continues to evaluate the market, however, a “razor sharp” focus on profitability is the priority. Property comes our way, if it makes sense to us, of course we’ll look at it. We’re not ready … right now I think it’s really kind of bottom line and focus on bottom line profitability,” she said.
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