Sirona Reclaims Brand from Good Glamm Group, Marks Rare Startup Buyback

-The Good Glamm Group acquired Sirona Hygiene for INR 450 Cr (approximately $60 million), four months back.

-Sources report that the repurchase has been financed primarily by the personal capital of Deep and Mohit Bajaj.

-In recent months, The Good Glamm Group has faced financial difficulties, with reports of salary delays and layoffs within the company.

Sirona, a leading feminine hygiene brand, has repurchased its brand from the Good Glamm Group and will now operate independently. This marks a rare instance of a startup reclaiming its identity post-acquisition.

Deep Bajaj, cofounder of Sirona, shared the news on LinkedIn, stating, "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."

This development follows The Good Glamm Group’s full acquisition of Sirona Hygiene for INR 450 Cr (approximately $60 million) in an all-cash deal, which was announced four months ago. However, prior to the finalization of the transaction, Sirona’s cofounders, alongside The Moms Co and the Indian Angel Network (IAN), filed a default notice against The Good Glamm Group for failing to make the final payments related to the acquisition.

Sources report that the repurchase has been financed primarily by the personal capital of Deep and Mohit Bajaj, with the buyback being described as a fire sale.

Founded in 2015, Sirona offers a range of innovative feminine hygiene products, including PeeBuddy (a stand-and-pee device), herbal period pain patches, menstrual cups, period stain removers, anti-chafing creams, and sanitary disposal bags.

In recent months, The Good Glamm Group has faced financial difficulties, with reports of salary delays and layoffs within the company. Additionally, media outlets have reported that the company is negotiating a new funding round at a significantly lower valuation.

Good Glamm, a Delhi-based firm, became a unicorn in 2021 after raising $250 million in a funding round. Last month, the company saw the exit of several key representatives, including Anand Daniel (Accel Partners), Vishal Gupta (Bessemer), and Gaurav Kothari (Prosus Ventures), who resigned from their roles as independent directors.