The Good Glamm Group In Talks To Sell MissMalini

Content-to-commerce startup The Good Glamm Group is in the final stages of discussions to sell its media and influencer talent management network MissMalini Entertainment to marketing agency Creativefuel. 

This was first reported by Moneycontrol.

The deal is valued at INR 4 Cr and appears to be a distress sale as GGG faces financial challenges and is attempting to raise capital to sustain its operations

As a part of the deal, Creativefuel will acquire the domain name and social media pages of MissMalini Entertainment, while the influencer business will remain with GGG.

Founded in 2018 by Nikhil Sukhramani and Tushar Sukhramani, Creativefuel seems to be doubling down on its digital media assets, as it has reportedly expanded its portfolio by acquiring YouTube channels such as Hasley India and Pataakha.

Founded in 2008 by Malini Agarwal, MissMalini is one of India’s first lifestyle blogging platforms. In 2021, Good Glamm acquired MissMalini Entertainment.

Back then, the group made five acquisitions, including MissMalini Media (content and marketing platform), Girl Tribe by MissMalini (women’s community platform), Ignite Edge (celebrity and talent management arm), Agent M Creative (creative agency) and MM Studios (video production house).

Besides acquiring a host of brands in 2021 and 2022, GGG also looked to create a content-to-commerce platform through acquisitions such as Vidooly, Bulbul, ScoopWhoop, Tweak India, Ms Malini, Winkl, and popXO.

However, GGG’s financial distress became evident in FY23, with its losses surging to INR 917 Cr, up from INR 363 Cr in FY22. This is compounded by a debt burden exceeding INR 450 Cr.

Recently, its CEO, Sukhleen Aneja, also quit the Group while Accel, Prosus, and Bessemer stepped down from the Good Glamm Board. In a bid to restructure its portfolio, GGG is looking to put several brands on sale, including Organic Harvest and The Moms Co. 

It had already sold a certain stake in D2C sneaker brand 7-10 and digital media platform ScoopWhoop to marketing firm Wubba Lubba Dub Dub (WLDD). Earlier this year, Sirona was sold back to its founders for INR 150 Cr.

The operational as well as management structures are also alleged to have derailed acquired brands and left them in disarray.

Meanwhile, the company is also reportedly in discussions with multiple investors to raise INR 150 to INR 240 Cr in fresh funding valuation of just under $120 Mn. This is a stark valuation cut from over $1.2 Bn just two years ago.