Success Story Of MyGlamm: India’s First D2C “Unicorn” In Beauty And Personal Care

It’s not every day that you come across a small startup that has managed to scale up itself to become a multi-million dollar company in a short span of time. Well, Myglamm is one of those rare gems. Building an online beauty products shopping store from scratch was not easy for Myglamm founders, Darpan Sanghvi and Priyanka Gill. But they reached the pinnacle of success with their continuous hard work and sheer intelligence. What is even more amazing is that they achieved it all while maintaining their core values and commitment to customer service. 

Want to know their success mantra? Read this blog to gain more information about MyGlamm’s incredible journey from a small startup to a multi-million dollar company. Let’s begin with the history of the company. 

How did it begin

It all started when Darpan Sanghvi and Priyanka Gill were working in the beauty sector and they noticed a lack of quality affordable products in the Indian cosmetic industry. Therefore, both of them decided to fill this gap and launched a company named Myglamm in 2017. The brand was built with the aim that every woman deserves to look and feel her best. Darpan and Priyanka wanted to provide their customers with the best possible experience, whether they are in stores or shopping online. 

But if success was too easy to get then everybody would be a millionaire. Like every other startup in India, Myglamm too had its fair share of struggles. One of the biggest challenges Myglamm faced was getting people to take them seriously as a new beauty brand. With a lot of hard work and determination, the company was able to overcome this challenge by offering high-quality products at pocket-friendly prices. Thanks to the dedication of the team, Myglamm quickly established itself as a trusted brand in the beauty industry. 

Success of Myglamm

Two years back when COVID-19 had hit the world everything came to a standstill. But for Myglamm, it was a blessing in disguise as the coronavirus-induced lockdowns led to a 1.35x increase in online cosmetic buyers in India. And MyGlamm saw this surge as an opportunity to increase its user base aggressively. While the brand grew by 400% in the past few years to hit an annualized revenue of 140 crore, high CAC (Customer Acquisition Cost) and low LTV (Lifetime Value) were two major reasons of concern for the team. However, the brand managed to beat the odds with its impressive marketing technique. 

Today, Myglamm has over 200 employees and is present in over 500 cities across India. The key to MyGlamm’s success is its capacity to forge new partnerships and  develop a community of 1.5 million influencers, generating 4.5 billion monthly impressions online. The brand became the latest Indian startup to join the ranks of unicorns after it raised $120 million in a Series G round from Prosus Ventures and Oxyzo, led by IIFL Asset Management Company (AMCs).