The Good Glamm Group has big plans for the US market through a joint venture with tennis legend Serena Williams’ cosmetics brand Wyn Beauty. The brand is now live on digital platforms, US’ largest beauty retailer Ulta and a few Sephora stores as it offers 91 shades across 10 distinct products for the face, lip and eye categories. The brand plans to be available only in the US for the first 12 months and then will be distributed across more geographies.
What Serena Williams said on the joint venture
Serena Williams said, “I’m so excited to introduce WYN Beauty to the world. To me, beauty has always been about self-expression and stepping into the best version of myself. Throughout my career, I was always searching for makeup that looked good after hours on the court, mixing products myself and creating my own formulas while traveling the world.”
The Good Glamm Group had also started joint ventures with Akshay Kumar, Karan Johar, Manish Malhotra, among others.
Darpan Sanghvi, founder of Good Glamm Group, told Moneycontrol, “We have been working on the JV for the last three years. Serena has been an incredible partner. She has greatly appreciated our Group’s tech and data DNA, our NPD innovation and the fact that the group has always been purpose driven with its focus on creating empowering ecosystems and inclusive communities. This JV is a meeting of the minds on bringing to life the proposition of high-performance, skin caring and clean beauty products.”
“Both parties are very closely involved in every aspect of the brand – from brand and product development to GTM distribution, supply chain and other functions,” he added.
Good Glamm Group’s IPO plans
Currently, the startup is in the middle of closing a $70-million Series E round. It has raised almost $30 million in the first tranche which will be used as working capital to support the company’s plans of going for an IPO in 2025.
“With a diverse portfolio of brands spanning various geographical regions, each with unique characteristics, we are wel-positioned to capture market opportunities. While India is expected to experience robust growth, the US market offers a significantly higher margin profile,” Darpan Sanghvi said.
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