Good Glamm defers April salaries; former employees await final settlements
Good Glamm Group
has delayed April salaries for its current employees and is yet to clear full and final settlements for former staff amid a cash crunch, with fundraising still pending, people aware of the matter told ET.
'The company is facing a liquidity crunch, and there has been an unexpected delay in the fundraise. HR has informed employees that April salaries will be deferred by a month and will be paid along with May salaries,' one of the persons said.
'Full and final settlements are still pending and clearing them will be a priority once the fundraise comes through,' the person added.
Mint first reported the development.
In January, the company had also delayed salary payments to a section of its 300-member workforce, startup news site The Arc reported earlier this year.
Queries sent by ET did not receive an immediate response from Good Glamm.
The Mumbai-based company has been selling or exploring the sale of various portfolio brands as part of its efforts to maintain liquidity and keep operations running during a turbulent period.
On April 11, ET reported that Good Glamm is in advanced talks to sell its media and influencer talent management arm, MissMalini Entertainment, to marketing agency Creativefuel.
In February, the company sold feminine hygiene brand Sirona for approximately Rs 150 crore—significantly below its original acquisition price of around Rs 450 crore. It also offloaded digital media subsidiary ScoopWhoop to Bengaluru-based agency WLDD at a valuation of Rs 18–20 crore, a fraction of the Rs 100 crore it paid to acquire the brand in 2021.
The company has also explored stake sales in other assets, including personal care brands Organic Harvest and The Moms Co, as well as content platform POPxo.
Formed in 2021 through the merger of Darpan Sanghvi's MyGlamm (founded in 2017), Priyanka Gill's POPxo (2013), and Naiyya Saggi's BabyChakra (2015), the Good Glamm Group has witnessed a series of senior-level exits in the recent past.
In May 2024, Sukhleen Aneja, CEO of its D2C arm, The Good Brands Co, moved to beauty e-tailer
Nykaa
. Gill stepped into a venture partner role at Kalaari Capital before launching her own lab-grown diamond brand, Coluxe, while Saggi is launching a new startup in the consumer electronics space.
Good Glamm last raised $30 million in a flat round from existing investors, including Warburg Pincus, Prosus, Bessemer Venture Partners, and
Accel
.
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