Last year in March 2020, MyGlamm was supposed to close its Series C fundraise. Three days before the closing, India went into a lockdown and the fund leading the fundraise pulled out. The brand was stuck with no money and had $20 million of unsold inventory, with payables of $5million and pending orders of another $20 million of inventory. With a 1000 employees with nothing to do and revenue down to zero due to the lockdown, the brand reached out to their existing investors - L’Occitane and Bessemer Venture Partners, who stepped in and provided emergency funds.
With those funds, MyGlamm made some bold moves and July 2020, MyGlamm acquired POPxo-Plixxo making the MyGlamm-POPxo-Plixxo combined, the largest Content to Community to Commerce platform in India with 88 million annual female users, with 1.5 billion annual video views and 150,000 influencers onboarded. Simultaneously MyGlamm doubled down on its offline strategy and grew offline point of sales from 500 to 10,000 during Covid, and further went on to open the largest beauty store in India. These strategic moves resulted in the brand ac
The MyGlamm-POPxo-Plixxo combine, is the largest Content to Community to Commerce platform in India with 88 million annual female users, with 1.5 billion annual video views and 150,000 influencers onboarded. With over 600 SKUs across makeup, skincare and personal care. MyGlamm has over 10,000 offline points of sales across 70 cities of India. MyGlamm uses a combination of technology, content and social media to allow consumers to not only discover its products but also create a rich, personalised, content and tutorial fuelled post-purchase experience through its App. Investors in MyGlamm include L’Occitane, Bessemer Venture Partners, Amazon, Ascent Capital, Wipro, the Mankekar family and Tano Capital which enables them to leverage deep industry and technology expertise.
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