The Good Glamm Group has not provided an official comment on the development
New Delhi: In a rare move for the startup ecosystem, Sirona, the feminine hygiene brand, has repurchased itself from the Good Glamm Group to operate independently once again. This development marks a significant shift in the brand’s journey post-acquisition.
“For two years, we nurtured the brand with Good Glamm before stepping away. We had a good run together, with its highs and lows. But with Good Glamm’s changing priorities, we felt the best way forward was to reclaim the brand and lead its next phase of growth ourselves,” said Deep Bajaj, Co-founder of Sirona, in a LinkedIn post.
The repurchase comes just four months after the Good Glamm Group announced the full acquisition of Sirona Hygiene for Rs 450 crore ($60 million) in an all-cash deal.
According to media reports, the buyback is primarily financed by personal capital from Deep and Mohit Bajaj. Sources suggest that the transaction is structured as a fire sale, as Good Glamm recalibrates its strategic priorities.
The decision follows reports of financial challenges at Good Glamm Group, including salary delays and layoffs. The company, which became a unicorn in 2021 with a $250 million funding round, is now reportedly negotiating a new funding round at a significantly lower valuation.
Six months prior to the repurchase, Sirona’s co-founders, The Moms Co, and the Indian Angel Network (IAN) reportedly filed a default notice against Good Glamm for failing to meet final payment obligations related to the acquisition.
The Good Glamm Group has not provided an official comment on the development.
Founded in 2015, Sirona has built a reputation for innovative feminine hygiene products, including:
- PeeBuddy, a stand-and-pee device
- Herbal period pain patches
- Menstrual cups and period stain removers
- Anti-chafing creams and sanitary disposal bags
With this move, Sirona aims to focus on its next phase of growth as an independent brand, leveraging its expertise in innovation and consumer-first product development.
The Good Glamm Group, which grew rapidly through a series of D2C brand acquisitions, is now facing a shifting business environment. Last month, key investors, including:
- Anand Daniel (Accel Partners)
- Vishal Gupta (Bessemer Venture Partners)
- Gaurav Kothari (Prosus Ventures)
stepped down as independent directors from the board.
With Sirona reclaiming its independence, the brand looks to rebuild on its original vision, while the Good Glamm Group navigates its restructuring. This repurchase sets a unique precedent in the startup ecosystem, highlighting the evolving nature of acquisitions in India’s D2C landscape.
