Hotline: 1800 102 2007
X
Search Business Opportunities
Mar, 23 2017

​MyGlamm raises Rs 35 crore from French cosmetic giant L'Occitane

MyGlamm seeks to establish itself as a full stack beauty business. It is planning to introduce about 100 makeup products in India by July.

MyGlamm, an on-demand beauty services provider, has raised Rs 35 crore springboard from French cosmetic giant L'Occitane. The company will use this fundraise to expand its business.

This fundraise is a so-called bridge round to finance the launch of new products before MyGlamm can mop up at least Rs 200 crore from investors for a global expansion.

Darpan Sanghvi, Chief Executive, MyGlamm, said, "Our vision is to go global and we need a large round of $30-40 million for that, so we just needed a sort of springboard right now to get to that.”

Sanghvi said, "The bridge-financing would peg MyGlamm's valuation at Rs 310 crore-Rs 720 crore. However, the 1.5-year-old firm's exact worth will be arrived at when the entire Rs 200 crore is raised, likely by the middle of next year."

MyGlamm seeks to establish itself as a full stack beauty business. It is planning to introduce about 100 makeup products in India by July.

The company also plans to begin operations overseas by the end of this year, with the Middle East being the first stop.

In addition to providing training to artists, it will also introduce beauty education for customers as a certification service.

Sanghvi is also preparing to launch five stores in Mumbai and New Delhi this year.

The company expects ending 2016-17 with Rs 20 crore in revenue.

Comment
image
Related opportunities
  • Quick Service Restaurants
    About: Slanz Café offers a value proposition for the end customer,..
    Locations looking for expansion Karnataka
    Establishment year 2013
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 700
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Bangalore Karnataka
  • Furniture Works
    About Us: Stellar, a unit of Hi-Life Traders Pvt. Ltd, is..
    Locations looking for expansion West bengal
    Establishment year 1996
    Franchising Launch Date 2018
    Investment size Rs. 2lac - 5lac
    Space required 1400
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Saltlake West bengal
  • World's Largest Flower Retail Chain - Ferns N Petals Pvt...
    Locations looking for expansion New Delhi
    Establishment year 1994
    Franchising Launch Date 2000
    Investment size Rs. 5lac - 10lac
    Space required 150-300 sq feet
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New Delhi New Delhi
  • Imitation/Art/Junk Jewellery
    About Us: Since1998, Mukesh Lakhara has had one aim – to..
    Locations looking for expansion Maharashtra
    Establishment year 2000
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 150
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Mumbai Maharashtra
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities