Founded by means of Darpan Sanghvi in 2017, MyGlamm these days also has POPxo founder Priyanka Gill as a cofounder after the POPxo acquisition in 2020
MyGlamm is looking to bypass traditional online distribution with the purchase and has revamped it into MyGlammxo as an acquisition channel for its products
With its advertising automation associate WebEngage, MyGlamm currently claimed a retention charge of 45% and is targetting INR 500 Cr ARR by means of subsequent year
cft & WebEngage present — “Decoding Hypergrowth” — a series capturing testimonies of successful businesses, the significance of smart engagement and their method to growing the identical.
Decoding Hypergrowth - The Changemaker's method to wise engagement
India’s splendor and private care market has boomed at the returned of the direct-to-purchaser (D2C) rush. Projected to develop at a CAGR of 4.23% among 2020 and 2025, the enterprise is expected to be well worth $8 Bn.
The fast growth of the splendor segment in D2C coincides with the rising penetration of net offerings in India, the growing attractiveness for ecommerce and social trade structures, as well as publicity to social media. In truth, the splendor and private care sector is one of the few sectors which didn’t face a stoop all through the pandemic. And given the tech-driven operations of most D2C brands, India is also seeing content material structures being utilized by those manufacturers for acquisition, marketing and extra.
Mumbai-primarily based D2C cosmetic and personal care startup MyGlamm is doubling down on this method with the aid of leveraging the digital presence of network-driven content platform POPxo, which it received last year. MyGlamm is seeking to bypass the traditional online distribution channels with this acquisition and revamped it into MyGlammxo.
Founded with the aid of Darpan Sanghvi in 2017, MyGlamm nowadays also has POPxo founder Priyanka Gill as a cofounder. The startup intends to create a 3C platform — content, network and commerce— in which content material and community converge with trade.
Converging Commerce With Content
MyGlammxo is estimated to be independent of MyGlamm. With the move, MyGlamm is developing a network for ladies where they can talk private care issues and trends, in addition to train themselves on the logo’s merchandise.
With 88 Mn precise ladies customers, MyGlammxo has a extensive purchaser base for MyGlamm to capitalise on for products in fashion, skin care and women’s fitness categories. Blending content with commerce, the platform is pushed by way of a experience of network. MyGlammxo specializes in creating and curating content material in personal care, beauty and way of life. The platform also hosts many nearby influencers which it onboards the use of POPXo’s influencer advertising platform Plixxo. Influencers unfold awareness about MyGlamm merchandise and promote them in addition to different manufacturers which are partnering with the enterprise. Plixxo claims to have over 37K influencers on their web site and has partnered with manufacturers together with Maybelline, Cadbury’s, Nike and Puma.
Growth Amid Pandemic
Acquiring POPxo within the center of the pandemic, the startup has proven clear symptoms of wanting to develop. The acquisition is expected to lessen the client acquisition charges, that's certainly one of the most important prices for a D2C enterprise. The company’s boom till this factor has been constant with the startup recording INR one hundred Cr in sales FY19 and INR 2 hundred Cr annual sales rate in 2020.
Now, with the acquisition in hand and a scope for instant scaling, MyGlamm is aiming for three hundred% boom and keeping its effective EBITDA with a sales of INR 500 Cr. This may be driven by means of huge expansions in numerous niches.
“We intend to amplify on all the three fronts of virtual, product and offline factor of sale. We need to triple our monthly active users (MAU) from 3 Mn to ten Mn. We want to expand our product line and increase our offline presence from 50 to one hundred cities of India in 2021,” stated Neeraj Sanghani, Chief Strategy Officer, MyGlamm.
Currently, MyGlamm has over six hundred SKU starting from cosmetics, skin and private care on their online platform and cellular application along 4K offline factor of sale in 50 cities and deliveries in 1K cities across India.
Watch MyGlamm’s Chief Strategy Officer, Neeraj Sanghani, Talk About The Startup’s Journey And Growth:
Need For Marketing Automation
The achievement, but, hasn’t come without challenges. At the beginning of the pandemic, like maximum organizations, MyGlamm additionally confronted the mission of putting in equipment and strategies for far off operating. The bigger venture changed into to make sure that growth endured and income had been not impacted critically. With MyGlamm’s products now not being counted under essentials within the first few weeks, there was virtually a few impact. Plus Sanghani stated that coping with an enterprise this is broadly speaking visible as luxury goods is always hard. After the initial few weeks of setback, MyGlamm delivered things returned on track. Sanghani claimed that sales are 50% higher than pre-Covid degrees with a retention fee of forty five%.
Growth and customer retention are intertwined within the international of D2C. For MyGlamm, it's miles an instantaneous end result of the combination towards advertising and marketing automation. As traditional advertising and marketing channels attain a point of saturation, organizations are seeking out more moderen ways to enhance their emblem merchandising and client engagement. Marketing automation is seen because the restore given that this allows manufacturers to recognition on the product more often than not, even as the generation concerned in advertising is basically handled via 1/3-party companions.
With this technique, MyGlamm partnered with WebEngage, a advertising automation solution for establishments concentrated on purchasers. This allowed it to discover more moderen avenues and the modern strategies to strengthen consumer retention and widen its repeat user base.
In the Indian context, advertising automation is growing unexpectedly, thanks to the unique desires of the D2C companies. With many legacy brands additionally following the D2C route, this brings a number of demanding situations to clear up and widens the possibility. The global marketplace for advertising automation software program and SaaS will move $10 Bn by means of 2025, registering a 12.7% CAGR among 2019 to 2025.
With WebEngage’s omnichannel customer engagement platform, MyGlamm was capable of derive actionable insights and make the maximum out of visits and traffic. While there are alternatives, Sanghani states that the choice become made clean by means of WebEngage’s palms-on technique — inclusive of a proposal of brainstorming sessions with the leadership crew, understanding MyGlamm’s desires and demanding situations.
Sanghani said, “WebEngage has a high emphasis on operating “with” their customers, not simply “for” their clients. This in our opinion has been the single most valuable revel in in adopting their platform. The management is open to tips and has collaborated with us in constructing new, precious functions.”
The Journey Forward
The growth within the beyond few months has strengthened MyGlamm and Sanghani’s self assurance. He believes that co-developing splendor merchandise is the next milestone for the enterprise. For this, it'd be running with clients, influencers and public figures. Taking inputs from clients to expand personalised beauty products is also on the agenda for the D2C emblem, which is tied to driving consumer engagement.
Sanghani is optimistic about the future in spite of the host of competition together with Nykaa, Purplle, NewU in addition to D2C brands together with Mamaearth, Azah, The Moms Co, Plum, SUGAR Cosmetics and others on this area. On the rising competition, Sanghani said, “There is room for plenty of recent manufacturers to be built in India. And consequently, this is not a market that is a winner take all. Each brand will be speakme to a particular purchaser personality and will fulfill a specific need. The profitability of each emblem could be based totally on their method and execution.”