Sirona’s founders could soon buy back business from Good Glamm Group

Personal care and feminine wellness brand Sirona Hygiene’s founders Mohit Bajaj and Deep Bajaj are working on buying back the brand from the Good Glamm Group for approximately Rs 150 crore. 

“The Good Glamm Group has a lot of debt now, and the only thing that they can sell is assets,” an anonymous source close to the development told ET Tech. “They had offered Sirona to a lot of people outside… the deal is not signed yet but it’s going towards the decision.”

Good Glamm Group first invested in Sirona Hygiene in 2022 with a Rs 100 crore funding injection made through both primary and secondary investments. The business then acquired Sirona in October 2024 for Rs 450 crore. However, since the acquisition, Sirona’s monthly sales have dropped to one eighth of its peak performance prior to the acquisition, ET Bureau reported. 

In March last year, Good Glamm Group raised $30 million from its existing investors including Accel, Warburg Pincus, and Prosus Ventures among others, the Economic Times reported. The investment was designed to address the business’ working capital needs and act as a prelude to a larger funding round. 

Although the funding round has yet to take place, Good Glamm Group reported receiving term sheets for a new fundraising round in December 2024. However, in January this year, representatives from Accel, Prosus Ventures, and Bessemer Venture Partners resigned from Good Glamm Group’s board of directors.