The Good Glamm Group recently underwent significant organisational changes, including the optimization of its workforce through layoffs affecting 150 employees, constituting 15 per cent of its total staff.
This move was explained as part of a broader restructuring effort aimed at streamlining operations and eliminating redundancies following the integration of various acquired companies over the past 15 months.
The company emphasised its commitment to achieving profitability in the fiscal year 2025 through this strategic initiative.
Additionally, key personnel elevations were announced, including Manan Jain as group COO, Kartik Rao as group chief people’s officer, and Ashish Jadhav as group head of product.
These changes coincided with the departure of some top leaders, such as cofounder Priyanka Gill and CFO Piyush Kalra, who left to pursue opportunities elsewhere.
The company highlighted the promotion of high-performing individuals from acquired entities to senior group roles as a result of the integration process. Furthermore, it secured a significant investment of Rs 245 crore (approximately USD 30 million) in March, which it intended to utilise for working capital needs.
Amidst these transformations, The Good Glamm Group ventured into a joint venture with former tennis player Serena Williams to launch a beauty brand in the US.
CEO Darpan Sanghvi expressed confidence in the company’s trajectory towards profitability, attributing it to cost reduction measures and operational synergies achieved through acquisitions.
These developments occurred against the backdrop of challenges in the broader e-commerce roll-up segment, prompting larger players to reassess their acquisition strategies and seek fresh capital.