Hyderabad-based beauty subscription platform, GlamEgo, has raised an undisclosed amount in funding from Brand Capital, the strategic investment arm of Bennett, Coleman and Company ( Times Group).
GlamEgo, which is also a T-Hub incubated startup was founded in 2017 by Lavanya Sunkari. GlamEgo is an online beauty discovery platform, which gives users the choice to try different beauty products every month at a price of only Rs 399. The products that come in the box are from premium and niche brands originally worth Rs 1500 – Rs 2000. Consumer will have an informed purchase, as GlamEgo tells you about the brand, product ingredients, and its benefits and results.
“GlamEgo is growing more and more organically aided by the rapidly growing Indian Beauty market. With the systems set in place for Customer care, Logistics and stock Management, the funds will only be utilised to further expand our reach to untapped markets so that we scale rapidly,” Lavanya Sunkari, Co-founder & CEO says.
GlamEgo also does a comprehensive understanding of its customer profiles with a questionnaire shared at the time of registration on the GlamEgo website. These questions help understand the preferences of subscribers and curate their boxes accordingly.
“GlamEgo address a Key Gap between Brands and consumers. Trail before buy subscription commerce is a booming industry in rapidly growing beauty industry,” an executive from Brand Capital said.
GlamEgo wants to be the Indian Ipsy – one of the largest in this space globally -- by bridging the gap between brands and consumers. Connecting the right consumer to the right product brings loyalty to the brand.
“For brands too, especially in the beauty industry, subscription commerce always has a ripple effect compared to other forms of marketing. It is also a cost-effective marketing choice for brands,” Lavanya adds.
GlamEgo currently delivers all over India to over 38000 pin codes. It plans to double its number of brands onboard from 100+ to 200+ by end of this year, while adding more premium brands such as Startstruck by Sunny leone, Votre, Jovees, palmers.
In India, GlamEgo competes with other players such as FabBag and Smytten in the $6-billion beauty market, which is expected to grow to Rs 25 billion by 2025 as per Redseer consulting.