This news follows the company’s announcement that it was acquiring online parenting platform BabyChakra and investing INR100cr ($13.5m) to build a mummy- and baby-centric content-to-commerce platform over three years.
Naiyya Saggi, founder and CEO of BabyChakra will join the MyGlamm group as co-founder and president and will spearhead the mum-baby vertical for the company.
The company is gearing up to launch over 80 products in this category under the BabyChakra brand in the next eight to 12 months.
Half of these are schedule to launch by this year and will be priced between INR199 to INR400 (U$2.70 to U$5.30).
“Our products will be accessible to families across India. Our plan to rapidly accelerate on D2C is possible due to the depth of product development and omnichannel distribution MyGlamm has already built out,” said Saggi.
In 2020, MyGlamm acquired the online women’s lifestyle platform PopXO and has since been tapping into its audience to co-create products.
The company is planning to do the same with BabyChakra, co-creating not just with mothers but doctors as well.
According to the firm, BabyChakra reaches more than 25 million families. Including MyGlamm and PopXO, the group can tap into a base of over 80 million women in India to gather insights.
“With the BabyChakra acquisition, MyGlamm will now cover the full spectrum of a woman’s needs. This is a unique position for the company to be in,” said Saggi.
A billion-dollar opportunity
The mother and baby personal care market worth $2.5 billion, growing rapidly at a compound annual growth rate (CAGR) of 14%, but category penetration is still low at only 15% in India.
“Given the rapid growth in this market, we believe there is an opportunity to create a billion-dollar company that deeply serves the needs of mum and babies with the care that they deserve,” said Saggi.
While there are ‘legacy’ brands in the market serving this segment, BabyChakra is seeing a need for products that emphasis on personalisation, efficacy and safety.
“There is still a wide market to serve families at scale with best-in-class products co created with moms and doctors keeping in mind their unique needs,” said Saggi.
She added that while online commerce was growing rapidly, only 10% of consumers were shopping online.
“Given women are coming online rapidly, and for many, their first port of call is childcare and pregnancy information and communities, we have a massive opportunity to educate, partner with moms and co-create products for mom and childcare, thus increasing access to care for each family.”
The company sees the expansion into mum and baby care as crucial to its future growth. In the next three years, the company’s goal is to reach INR500cr (U$67.3m) revenue run rate for its products.
“Mums are an especially important constituent since they make 85% of all consumer and healthcare choices and purchase decisions for their families. When we partner with a mom, we partner with a whole family,” said Saggi.