India's digital-first, fast-moving consumer goods (FMCG) conglomerate, The Good Glamm Group recently completed the acquisition of Sirona Hygiene, a feminine hygiene brand, for Rs 450 crore (approx. $60 million) in an all-cash deal. This acquisition aims to advance the benefits of Sirona's employees through accelerated ESOP (employee stock option) vesting.
This deal is India's biggest cash exit for a direct-to-consumer (D2C) for any startup in the FemTech space. Sirona Hygiene previously received Rs 100 crore in 2022 from The Good Glamm Group which helped them to establish a good market specifically for women's hygiene. Since then, Sirona has tripled its revenues in the past year. It offers a range of innovative products that help women deal with menstrual challenges. Products such as PeeBuddy (stand and pee using a device), herbal period pain patches, menstrual cups, period stain removers, anti-chafing rash creams, and sanitary disposal bags have made women's lives easier. Sirona has achieved another milestone launching India's first WhatsApp period tracker and fostered an online community, additionally establishing feminine hygiene vending pods at Delhi airport. Sirona has been working for women's hygiene as well as women's safety by acquiring IMpower which manufactures women's safety pepper spray and BLEU which manufactures vegan condoms.
After the acquisition of The Good Glamm Group, co-founders of Sirona, Mr. Deep Bajaj and Mohit Bajaj have stepped down from their active roles and as Directors of the company. Mr Deep mentioned, "From PeeBuddy, now used by over 3 million women, to Sirona menstrual cups, used by 4 million women as pad alternative, we have built India's highest-selling D2C feminine hygiene brand." Mr Mohit stated, "This moment is both bittersweet and a proud validation of a decade's worth of work."
