The founders of Sirona have bought back the feminine hygiene brand from Warburg Pincus-backed The Good Glamm Group just four months after selling it.
“We have officially bought back Sirona,” Deep Bajaj, founder of Sirona, said in a LinkedIn post.
“We still have more time to contribute to the feminine hygiene space. We return with the same passion, a bit more wisdom and even bigger vision to create a meaningful impact,” he added.
The Good Glamm Group, formerly known as MyGlamm, acquired Sirona for Rs 450 crore in an all-cash deal in October last year.
The deal was partly closed in 2022 but faced regulatory hurdles after Sirona accused the beauty and personal care unicorn of not following the original agreement. The dispute was settled after a new agreement between the parties was done, and the deal was completed in October last year.
The Good Glamm Group has been grappling with its own set of challenges. It had aimed to launch its IPO this year but is facing a bumpy road ahead.
In a LinkedIn post last month, the content-to-commerce company said it is going through a restructuring phase, reconstitution of its board, and trying to raise fresh funds.
Three of its investors — Accel, Bessemer Venture Partners, and Prosus — stepped down from its board earlier this year, and the company has also laid off employees over the past few months, hinting at problems within the firm. The company now seems to be focusing on its core business of selling beauty products.
“With GoodGlamm’s changing priorities, we felt the best way forward was to reclaim the brand and lead its next phase of growth ourselves,” Bajaj said. “The goal was never just to sell, make money, and move on. From day one, the vision was to ccale Sirona 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.”
Established in 2015 by Deep Bajaj and Mohit Bajaj, Sirona offered products to solve unaddressed feminine hygiene issues and share information to enable them take right decisions.
