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Good Glamm Group to be split up as CEO Darpan Sanghvi takes responsibility for collapse
The group had explored multiple options in recent months including refinancing, partial brand sales, and strategic investments but was unable to arrive at a viable solution.
Sanghvi stated that each brand will now be sold independently, with new owners taking over operations. He acknowledged that this was not the intended outcome, but accepted the decision as necessary under the circumstances.
Good Glamm Group will no longer operate as a unified digital FMCG conglomerate. In a detailed public statement, founder Darpan Sanghvi confirmed that lenders have begun enforcing charges on the individual brands under the group, and the company will be restructured through separate brand sales rather than a group-wide resolution.
Read More:Appraisal season, but no salaries yet: Laid-off Good Glamm staff say dues unpaid, emails repetitive
The group had explored multiple options in recent months—including refinancing, partial brand sales, and strategic investments—but was unable to arrive at a viable solution. According to Sanghvi, the structural complexity and time constraints contributed to the breakdown of consolidation efforts.
Sanghvi stated that each brand will now be sold independently, with new owners taking over operations. He acknowledged that this was not the intended outcome, but accepted the decision as necessary under the circumstances.
In the statement, he also took responsibility for the situation, citing strategic missteps and risks that did not yield results. Employees, vendors, partners, lenders, and shareholders were all affected by the fallout, he said.
To address unresolved dues, Sanghvi announced plans to create a “Good Glamm Resolution Fund” within 60 days. This fund will be seeded with equity allocations from his future ventures and is intended to cover any outstanding liabilities. He also committed to personally covering some employee dues if they are not honored in the individual brand transitions.
The statement additionally outlined his intention to document and publicly share lessons from the experience in the coming weeks, aimed at offering transparency and insights for other entrepreneurs.
The Good Glamm Group had aimed to build a large-scale content-to-commerce business, with multiple brand acquisitions in the beauty and personal care space. The dissolution marks a major shift in direction for one of India’s most visible D2C brand conglomerates.
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