The founders of Sirona on Tuesday said they have bought back the feminine hygiene brand from the Good Glamm Group. The content-to-commerce beauty and personal care company had completed the acquisition of the femtech brand in October last year which had valued Sirona at ₹450 crore. This was one of the largest cash exits for a direct-to-consumer (D2C) start-up in India, especially in the femtech space.
Confirming the development, in a Linkedin post, Deep Bajaj, Founder, Sirona Hygiene said, “The goal was never just to sell, make money, and move on. From day one, the vision was to scale and take it global. 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.”
The Good Glamm Group did not comment on the development. The commericals of the buy back transaction have not been revealed and has been done at a significantly lower valuation compared to the sale by the cash-strapped beauty and personal care company.
Sources said that one of the reasons for this transaction has also been that Good Glamm is trying to focus on its core categories of beauty and personal care.
Founded in 2014-15 by Deep and Mohit Bajaj, Sirona is known for its range of feminine hygiene products and solutions. In October 2022, the Good Glamm Group had bought a majority stake in Sirona with an investment of ₹100 crore through primary and secondary investments. However, later Sirona founders ran into a dispute and had served a notice to the Good Glamm Group alleging it had defaulted on its final payment obligations. This dispute was eventually settled with Good Glamm announcing that it had completed the acquisition of Sirona for ₹450 crore in an all-cash deal in October 2024.
The Good Glamm Group has been facing challenges and has had to lay off employees in the past few months. It has earlier said that it is in the process of raising a fresh round of funds. In January, the company confirmed that three representatives of its investors —Accel, Bessemer Venture Partners and Prosus — have stepped down from its board.
“At Good Glamm Group, we are in the midst of restructuring and a subsequent fundraise. As a part of our restructuring, our Board is also being reconstituted and new members will be joining our Board,” it had stated last month in a Linkedin post.