Content-to-commerce platform The Good Glamm Group lays off 150 employees

The Good Glamm Group has laid off 150 employees, or about 15% of the workforce at the content-to-commerce platform.

The company said it has put in place a new organisational framework to streamline operations, which led to eliminating certain redundancies over the last 15 months.

“This strategic initiative marks the culmination of the company’s final phase of team integration with a steadfast aim to be a profitable company in FY25,” it said in a statement.


“The optimisation (layoffs) was a result of the integrations getting completed between the different acquired companies,” it added.

As part of this restructuring, the Mumbai-based firm has also elevated some of its senior executives. It appointed Manan Jain as group chief operating officer, Kartik Rao as group chief people officer and senior vice president of founder initiatives, and Ashish Jadhav as group head of product.

These changes come at a time when some of the company’s top leaders have quit the firm. In March, chief financial officer Piyush Kalra left the company to join appliances firm Versuni as its finance chief.

In February, cofounder Priyanka Gill joined investment firm Kalaari Capital as a venture partner. At the Good Glamm Group, Gill stepped away from day-to-day operations.

The Good Glamm Group last month announced the appointment of Kamal Lath as its group CFO.

“The integrations further resulted in promotions of high-performing individuals from acquired companies to senior group roles,” the company said, citing the examples of Jain, who was initially with Popxo, which the company acquired in 2020, and Palak Agarwal, head of commercial finance, who came from video commerce platform Bulbul, among several others.

In March, the beauty products and content company had raised Rs 245 crore, or around $30 million at a flat valuation of $1.2 billion from existing investors including Warburg Pincus, Prosus, Bessemer Venture Partners and Accel. ET had reported that the company would be using these funds for its working capital requirements.

The Good Glamm Group’s operational streamlining and cost-reduction exercise had commenced at a time when the broader ecommerce roll-up segment started showing clear signs of distress, with larger players pausing on buyouts of firms while scouting for fresh capital.

On January 11, ET reported that the company was expected to grow by about 50% in FY24 – slower than the previous year – with a focus on reducing cash burn and achieving profitability. It is also aiming for an initial public offering in 2025.

The company has yet to file its financial statements for FY24 with the Registrar of Companies.

On April 4, the Good Glamm Group announced a joint venture with former tennis player Serena Williams to launch a beauty brand in the US.

At the time, the company’s founder and chief executive Darpan Sanghvi had said, “In the last 12 months, we've been focusing on reducing our cost base, whether it's fixed costs or marketing cost, and getting more operating synergies of all the acquisitions coming in together and getting to profitability, which is why with confidence I can say that FY25 will be profitable for us.”