Synopsis
The acquisition talks began in 2020 and were finalised this month.
Direct-to-consumer beauty company MyGlamm has noninheritable parenting platform BabyChakra to expand its operations in South Asia. With this acquisition, MyGlamm and Baby Chakra are going to be finance Rs a hundred crore in building a mother-and-baby content-to-commerce platform over future 3 years, the company said in a very statement.
The acquisition talks began in 2020 and were finalised this month. As a part of the acquisition, Naiyya Saggi, founder and CEO of BabyChakra, will be a part of MyGlamm as cofounde under and president. Saggi will spearhead the mother-and-baby vertical and build out the community vertical for MyGlamm.
She’s going to conjointly join the MyGlamm board. Saggi said, “MyGlamm is a longtime leader within the ecommerce ecosystem with a shared price system on a way to develop, launch and scale best-in-class merchandise that cater intuitively to wants|the requirements|the wants} of our consumers. whereas the Indian mother-and-babycare market is giant and growing chop-chop at 15-20�GR (compound annual growth rate), Indian mothers and children still need products that are really individualised to their needs. i’m conjointly terribly excited to contribute to the cluster by leading its overall efforts in building out engaged communities supported a data- and product-first approach.”
Launched in 2017, MyGlamm has a web associated offline presence in seventy cities and cities in India. It recently closed its Series C funding spherical at Rs 530 large integer and expects to grow to an annualised revenue of Rs 750 crore by December, the corporate said.
BabyChakra can still specialize in building a complete within the mother-and-baby ecosystem, beginning with India. BabyChakra counts over twenty five million families as its users. Priyanka Gill, father and president of MyGlamm, said, “BabyChakra addresses vital issues and supports moms from the terribly initial day of their maternal journey. I forestall to operating aboard Darpan and Naiyya in building India’s largest parenting platform.” MyGlamm has around 800 distinctive things across makeup, care and private care. It recently entered the hair-care phase as well.
