New Delhi. Direct-to-consumer beauty brand MyGlamm on Tuesday said it has acquired online parenting platform BabyChakra, and will invest Rs 100 crore over the next three years in building the country’s largest mother-baby content-to-commerce platform. Will do
The company has not disclosed the price it paid to buy Babychakra. MyGlamm Founder and CEO Darpan Sanghvi stated that BabyChakra will continue to operate as an independent entity under MyGlamm and continue its content strategy and create its own mother-baby range of products in conjunction with MyGlamm’s product partnerships. Will do
“With this acquisition, MyGlamm enters the mom-baby care segment and will continue to expand on its 3C approach and become the largest content-community-commerce company in South Asia along with POPxo and BabyChakra,” he added.
With the acquisition of BabyChakra, MyGlamm will now cover the full spectrum of a woman’s needs. Naiyya Saggi, Founder and CEO, BabyChakra will join the MyGlamm Group as Co-Founder and Chairman and lead the ‘Mom-Baby’ vertical, creating an overall community vertical for the group.
Babychakra’s team of 35 employees has also been roped in as part of the transaction. In July, MyGlamm had announced a funding of Rs 530 crore from Accel and others. MyGlamm – which acquired POPxo in August last year – had around 10,000 points of sale across 70 cities in India at the end of FY’21.
The company is looking to expand its network to 35,000- 40,000 point-of-sale in 100 cities by December this year. Its current revenue run rate is around Rs 480 crore and is expected to increase to Rs 750 crore by the end of the year. MyGlamm, POPxo, and BabyChakra together represent a community of more than 80 million women and more than 220,000 influencers on their platforms.
“The Baby & Mom Personal Care Market (i.e., Hair & Skin Cleansing, Diapers & Maternity Personal Care) is USD 3 billion, growing rapidly at a CAGR of 14 percent, but the penetration of the category is only 15 percent. Moreover, online commerce, growing rapidly, is still at only 10 per cent while offline is at 90 per cent,” Saggi said.