PC: Solondais
In a first-of-its-kind content-to-commerce platform, The Good Glamm Group today announced the acquisition of Sirona Hygiene in all cash for Rs 450 crore. This is one of the biggest cash exits for a direct-to-consumer startup in India in general and femtech specifically, marking a significant shift in the landscape of women-centric health and wellness.
The takeover of Sirona by The Good Glamm Group completely transformed the femtech space and also brought some immense improvements to the company. In fact, Deep Bajaj and Mohit Bajaj, co-founders of Sirona, who resigned from their full-time roles at the beginning of this year, have now resigned from being active directors in the company.
The Good Glamm Group has also ensured that the acquisition has benefited the employees of Sirona. Accelerated ESOP vesting has helped Sirona’s employees gain early financial benefits, and this reflects the well-spoken intention of The Good Glamm Group to make its purchased companies places of inclusion, empowerment, and shared success.
There are reports of a flare-up that has come to the fore between the co-founders of Sirona, The Moms Co, and the Indian Angel Network (IAN) against The Good Glamm Group in respect of an alleged default in final payment obligations under the acquisition deal. This, surely enough, speaks to the threats and complexities inherent in such high-stakes acquisitions in the dynamic startup ecosystem.
Founded in the year 2015, Sirona has played a great role in the femtech space by offering products through extensive diversification to be able to fulfill the health and wellness needs of women from puberty through to menopause. The brand innovative solutions like PeeBuddy, herbal period pain patches, menstrual cups, period stain removers, and sanitary disposal bags have actually redefined categories and set new standards in quality and innovation.
Good Glamm Group’s strategic investment in Sirona, worth Rs 100 crore ($12 million) back in 2022, earned great returns for early angel and seed investors, ranging between 6x and 20x. Exponential growth in Sirona’s revenue reached three times in merely 24 months-a direct pointer to market demand for its products and the efficiency of the business strategy.
Apart from organic growth, Sirona has also built up its portfolio through strategic acquisition in the form of IMpower and BLEU, thereby further diversifying product offerings and amplifying its lead position in the femtech space. Good Glamm Group is diversifying by offering a basket full of DTC beauty and personal care brands under MyGlamm, The Moms Co, Organic Harvest, St Botanica, and WYN Beauty, driving innovation and excellence in consumer internet space.
As part of its preparations for its planned public listing by Diwali 2025, the introduction of the GlammSOP program is a commitment to rewarding and retaining high-performing employees through accelerated ESOP vesting at the time of the IPO. With a spectacular CAGR of 251% from FY21 to FY23, The Good Glamm Group is India’s fastest-growing consumer internet firm and will be shaping the future of e-commerce and digital innovation.
With that, this acquisition of Sirona Hygiene is a transformational point in femtech and D2C startups in India. As the two companies look to adopt the opportunities and challenges inherent in this landmark deal, they stand ready to create a revolution in the fast growth and impact brought by women’s health and wellness offerings in the sector, putting very high standards for industry excellence and customer-centric innovation to be followed as progress is made.
