The Good Glamm Group lays off 150 employees, restructures business ahead of IPO

The Good Glamm Group, a content-to-commerce platform, has laid off 150 employees, which constitutes about 15% of its total workforce. 

The move was part of a broader strategic initiative to optimize operations and reduce redundancies within the company. The restructuring was necessary to integrate the various businesses the group had acquired over time, including well-known names like POPxo, Plixxo, BabyChakra, The Moms Co, ScoopWhoop, and Tweak India, as per the company.

How is the Good Glamm Group streamlining its operations?

To streamline operations and enhance efficiency, The Good Glamm Group has implemented a new organizational framework known as the Agile Organizational Framework.

The initiative focuses on minimizing operational lags, collapsing hierarchies, increasing cross-departmental responsibilities, and empowering junior managers with controlled budgets. These changes aim to foster faster decision-making and higher productivity across the board.

Who are the new leaders at the Good Glamm Group?

Following the layoffs and organizational adjustments, the Good Glamm Group has promoted several high-performing individuals to senior roles.

Key appointments include Manan Jain as Chief Operating Officer, Kartik Rao as Chief People Officer, Ashish Jadhav as Head of Product, and Kamal Lath as the new Group CFO. These changes in leadership aim to guide the company through its next phase of growth and profitability.

Preparing for the IPO launch

Despite the layoffs and restructuring, the Good Glamm Group is actively preparing for an initial public offering (IPO) scheduled for Diwali 2025. The company is in the process of raising $70 million in a Series E funding round, with $30 million already secured.

The Good Glamm Group has reported significant growth, with a top line crossing Rs 250 crore and a nearly fivefold increase year-on-year in FY22. However, the company also reported increased losses of Rs 273 crore during the same period.

Focused on profitability and international expansion

The Good Glamm Group is focusing on internal restructuring and expanding internationally. Recently, The company announced a joint venture with tennis legend Serena Williams to launch the Wyn Beauty brand in the US market. 

“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," Darpan Sanghvi, Founder & CEO earlier said.