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The Good Glamm Group is officially splitting up its house-of-brands model, citing mounting financial strain and failed restructuring attempts.
The group has put three of its brands on the block to manage rising debt. Once valued at $1.26 billion, GGG is now weighed down by cash burn and repayments due to lenders like Stride Ventures, Alteria Capital, Trifecta, Oxyzo, HDFC, and HSBC.
What this means: there won’t be a common umbrella anymore. Instead, each brand will now be sold off individually, with new owners stepping in to take charge.
The trigger: the decision comes amid GGG’s ongoing talks with Gujarat-based Veloce Fintech for a down round deal. The company, backed by Prosus and Warburg Pincus, has been trying to clean up its balance sheet.
Backstory: Sirona’s founders have already bought back the women’s wellness brand in a distress sale. ScoopWhoop was sold for just ₹18–20 crore, a steep fall from its 2021 valuation. Miss Malini, bought for ₹70–80 crore in 2021, is reportedly being offloaded to Creativefuel for ₹4 crore.
Taking the fall: Founder Darpan Sanghvi issued a three-part note taking full responsibility for the collapse:
“Was this the plan? No. Was this surprising? Also no. The calls that didn’t work out that’s on me,” he wrote. “Saying sorry doesn’t cut it. Responsibility isn’t just about regret it’s about commitment.”
He confirmed that brand sales will move ahead over the coming months, and he’s actively helping place employees and settle dues.
The founder has promised to use 25% of his future post-tax income to repay any outstanding dues if lenders can’t recover full amounts through sales.
He also plans to launch a Good Glamm Restitution Fund within 60 days, backed by equity from his next venture, to support unpaid vendors, partners, and shareholders.
