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The Good Glamm Group, beauty and personal care conglomerate, has acquired 51 per cent stake in Tweak India in a cash and stock deal. Founded in 2019 by author and entrepreneur Twinkle Khanna, Tweak India is a new-age digital company which has garnered a highly-engaged following comprising urban, upwardly mobile women.
Following this acquisition, Tweak India will function under Good Media Co led by Priyanka Gill, co-founder, the Good Glamm Group and CEO, the Good Media Co. Tweak India’s Founder & CEO Twinkle Khanna will continue in her role and will also become a shareholder of the Good Glamm Group, the company stated.
“This strategic acquisition will further bolster the Good Glamm Group’s content-creator-commerce strategy. It will give us deeper access to the Tier-1 demographic. Our content-creator-commerce stack coupled with Tweak India’s content capabilities and its audience of 6 million MAUs (monthly-average-users) and 15 million monthly impressions will further boost the group’s D2C capabilities,” Gill told businessline. The company did not disclose commercials of the deal.
In a statement, Twinkle Khanna, Founder & CEO, Tweak India said, “This strategic partnership will give Tweak India a cohesive platform to grow and optimise our strengths.”
The Good Media Co, a division of the Good Glamm Group, comprises media platforms including POPxo, ScoopWhoop, BabyChakra and MissMalini Entertainment.
Gill said the company will leverage its expertise to further grow and scale up Tweak India, which is already a profitable business. “While we continue to focus on increasing the breadth of Good Media Co, we are also sharply focusing on growing the depth. So this acquisition is in line with that strategy, as Tweak India helps us fill a gap in our portfolio,” she added.
Gill said that the Good Media Co generates over 4 billion monthly impressions and has over 200 million unique users. “This strong digital reach when combined with our 50,000 offline points of sale gives brands within the Good Glamm Group an unprecedented omnichannel scale,” she added.
The leading DTC beauty unicorn is backed by marquee equity investors such as Warburg Pincus, Prosus Ventures, L’Occitane, Bessemer Venture Partners, Accel, Amazon, Stride Ventures, Trifecta Capital, Ascent Capital, Alteria Capital among others.
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