The Good Glamm Group, on Thursday, said it has re-hauled its organisational structure in a bid to create an agile organisational framework ahead of its IPO next year. The leading beauty and personal care company said this strategic initiative marks the culmination of the company’s final phase of team integration with a steadfast aim to be a profitable company in FY 25.

It added that the agile organisational structure has been created to focus on maximising value by minimising lags in execution and operations. It has also elevated several executives to new roles.

This includes Manan Jain being elevated to the role of Group Chief Operating Officer and Kartik Rao as Group Chief People Officer and SVP of Founder Initiatives. While Ketan Bhatia is taking over as Group Brand Director, Avalok Langer has been appointed as the Group Chief Creative Officer, among other elevations. Recently, the group had also announced the appointment of new Group CFO, Kamal Lath.

Run-up to IPO

This initiative includes “streamlining overall ways of working between departments by increasing cross-departmental responsibilities, faster decision making by empowering junior managers with controlled budgets and collapsing hierarchies and eliminating redundancies (people, process, and system) for reducing steps in execution and enhancing productivity,” it added.

“In the run-up to its IPO around Diwali 2025, the Group also announced a GlammSOP programme for its high-performing employees that allow for accelerated vesting of their ESOPs at the IPO. The GlammSOP programme will also have an additional target-based new ESOP pool being issued to senior management that also vest at the IPO,” the company added.

Darpan Sanghvi, Group Founder & CEO of Good Glamm Group, said, “With the Group on a distinctive growth trajectory and now approaching profitability, we are excited to unveil a systematic approach towards an Agile Organisational Framework that will allow us for faster execution in the run-up to our IPO”.

Published on April 18, 2024