Good Glamm Group acquires ScoopWhoop, signals foray into men's grooming space
To invest Rs 500 crore in the segment over the next two years.
Mumbai: GoodGlamm Group, the parent company of direct-to-consumer (D2C) beauty and personal care brand MyGlamm, has acquired the new-age digital media platform ScoopWhoop Media. This is the second acquisition by the company in less than a month and the fourth big buyout for the group after The Moms Co, BabyChakra, and content and commerce platform POPxo, which it acquired last year.
With the ScoopWhoop takeover, the company now intends to build its venture into the men’s grooming category.
“I have been an ardent user and fan of ScoopWhoop for a long time. It’s a privilege to have Sattvik, Rishi, Sriparna join the Good Glamm Group family and have ScoopWhoop accelerate the Group’s foray into building a content-to-commerce platform for the burgeoning male grooming and personal care segment," commented Good Glamm group founder and CEO Darpan Sanghvi.
Founded in 2013 by Sattvik Mishra, Rishi Pratim Mukherjee, and Sriparna Tikekar, ScoopWhoop has over 1.5 billion impressions every month and over 100 million users, the company said.
Based in New Delhi, the media outlet will continue to work as an independent brand and media house within the Good Glamm Group. Its founders will continue to lead ScoopWhoop and work closely with Sanghvi and the other co-founders of Good Glamm Group, Priyanka Gill and Naiyya Saggi, said the statement.
The D2C brand MyGlamm had introduced The Good Glamm Group in September to consolidate all its businesses under one umbrella and announced its plans to acquire six brands in the beauty and personal care space before March.
“The acquisition of ScoopWhoop, which has a male audience of over 60 per cent, will pave the way for entry into content-to-commerce for the fast-growing male segment. Good Glamm Group’s commerce stack coupled with ScoopWhoop’s content capabilities and digital reach amongst men will turbocharge the group’s D2C capabilities in the male grooming segment,” the company said in a press statement.
"The company is looking to invest Rs 500 crore over the next two years in the male grooming space and are in talks with a few brands in the segment to acquire them," it further added.
The company had acquired baby and mother products brand The Moms Co for Rs 500 crore earlier this month. It is also the group’s second acquisition in the content space after the women-centric content platform POPxo.
