MyGlamm Acquires BabyChakra; To Invest INR 100 Cr In Mom-baby Content-to-commerce Naiyya Saggi to join MyGlamm team as co-founder and to join the board
By Prabhjeet Bhatla •
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DTC beauty and personal care company MyGlamm, announced to have acquired parenting platform BabyChakra, to further expand the content, community, and commerce company in South Asia.
With this acquisition MyGlamm and BabyChakra will be investing INR 100 crore in building India's largest Mom-Baby content-to-commerce platform over the next 3 years.
"I am extremely excited about this partnership with MyGlamm and working with Darpan, Priyanka and team as we build India's largest parenting platform. MyGlamm is an established leader in the e-commerce ecosystem with a shared value system on how to develop, launch and scale best in class products that cater intuitively to the needs of our consumers. While the Indian Mom and babycare market is large and rapidly growing at 15-20 per cent CAGR, Indian moms and kids still need products that are truly personalized to their needs. I am also very excited to contribute to the group by leading its overall efforts at building out engaged Communities based on a data and product first approach," said Naiyya Saggi, founder and chief executive officer, BabyChakra and co-founder and president, MyGlamm.
The move to acquire BabyChakra first started in 2020 with the founders of both companies aligning on a shared vision about content, community and commerce being the future of creating digital first brands and there being an opportunity for the same in the Mom-baby category at scale. This led to the partnership of MyGlamm and BabyChakra to build India's largest Mom-Baby Content to Commerce company. The whole process took 6 months and was finalized on 11 August, 2021.
Naiyya Saggi, founder and chief executive officer, BabyChakra will join the MyGlamm group as co-founder and president and will spearhead the Mom-baby vertical while also building out the overall community vertical for the group. Saggi will also join the MyGlamm bBoard.
Together (MyGlamm, POPxo and BabyChakra) represent a community of over 80 million women, have produced and sold millions of beauty products across makeup, skincare, and personal care and have over 220,000 influencers on their platforms. The large user base, proven digital and go to market capabilities, and data-driven insights into what millennial women and mothers want will help MyGlamm, POPxo and BabyChakra successfully create, launch and market products in the beauty, lifestyle and parenting category, the company shared.
With this acquisition, BabyChakra will continue to remain focused on building out the largest, most trusted brand in the mom child ecosystem starting from India. While BabyChakra's digital assets and solutions already reach and deeply engage over 25 million families, the MyGlamm partnership will exponentially accelerate its journey on the D2C e-commerce side.
"The Mom-baby category is one of the fastest growing categories currently in the BPC segment in India. BabyChakra has built an incredible amount of trust amongst parents, through their engaging platform, community and extensive doctor network. We are thrilled to have Naiyya join the group as co-founder and work alongside her to make BabyChakra the largest Mom-baby brand and platform in India," commented Darpan Sanghvi, founder and chief executive officer, MyGlamm.
The Mom and Babycare segment is a $4 billion market, however the category penetration is only 15 per cent resulting in the bulk of Indian families still remaining underserviced with products and solutions that ensure care. With the commerce stack that MyGlamm has built out and scaled, BabyChakra will leapfrog its D2C capabilities by continuing to co-create best in class products with their large communities of families and doctors, launch products online and offline across the country, thus ensuring every mother and family has the best care for themselves and further expanding the #TellMyGlammWhatYouWant brand philosophy in the parenting segment as well, the company further said.
"Really happy to have BabyChakra join the MyGlamm and POPxo family. I can think of no one better than Naiyya to lead our strategy in the parenting segment. BabyChakra addresses important concerns and supports moms from the very first day of their maternal journey and I look forward to working alongside Darpan and Naiyya in building India's largest parenting platform," added Priyanka Gill, co-founder and president, MyGlamm.
MyGlamm products, launched in October 2017, are available both online and offline. The brand has over 15000 points of sale across 70 cities in India.
Recently, the brand closed its Series C funding round at INR 530 crore and is projecting to grow to an annualized revenue of INR 750 crore by December 2021. Currently, MyGlamm has around 800 SKUs across makeup, skincare, personal care and recently entered the haircare segment as well.
