The Good Glamm Group, a prominent content-to-commerce platform, has completed its acquisition of Sirona Hygiene for Rs 450 crore (approximately $60 million) in an all-cash deal. This transaction stands out as one of the largest cash exits in India’s direct-to-consumer (D2C) startup landscape, particularly in the femtech space.
As part of the acquisition, Sirona’s co-founders, Deep Bajaj and Mohit Bajaj, who had earlier stepped down from their operational roles, have now resigned from their positions as active directors. In a statement, The Good Glamm Group also highlighted that Sirona’s employees benefited from the accelerated vesting of employee stock options (ESOPs), leading to early financial gains.
However, the acquisition has not been without complications. Reports surfaced that Sirona’s co-founders, alongside investors from The Moms Co and the Indian Angel Network (IAN), had filed a default notice against The Good Glamm Group, alleging failure to fulfill the final payments associated with the deal.
Founded in 2015, Sirona Hygiene revolutionized women’s hygiene and wellness with products aimed at addressing needs from puberty to menopause. The brand introduced innovations like PeeBuddy, a stand-and-pee device for women, herbal period pain patches, menstrual cups, period stain removers, and sanitary disposal bags. The company’s product line has consistently pushed boundaries in menstrual health and personal care.
The Good Glamm Group’s association with Sirona began in 2022 with an investment of Rs 100 crore ($12 million), resulting in significant returns for early investors. Since then, Sirona has grown rapidly, tripling its revenue in just two years. Along its journey, Sirona also acquired startups like IMpower (a women’s safety pepper spray brand) and BLEU (India’s first vegan condom brand).
In addition to Sirona, The Good Glamm Group boasts a wide portfolio of D2C beauty and personal care brands, including MyGlamm, The Moms Co, Organic Harvest, St. Botanica, and WYN Beauty by Serena Williams. The group, based in Delhi, achieved unicorn status in 2021 and has maintained strong growth, with a compound annual growth rate (CAGR) of 251% between FY21 and FY23.
Earlier in 2024, the company raised an additional $30 million to fuel its expansion. With an IPO planned for Diwali 2025, The Good Glamm Group has also rolled out the GlammSOP program, offering accelerated ESOP vesting to high-performing employees at the time of the IPO.
