Good Glamm delays salaries for second month amid financial struggles
The delay has also impacted former employees, with full and final settlements still pending.
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Good Glamm Group has delayed employee salaries for the second consecutive month, citing ongoing financial struggles, according to reports. Despite earlier assurances that April and May salaries would be disbursed together in June, employees had not received payments as of June 3, creating uncertainty across the company.
The delay has also impacted former employees, with full and final settlements still pending.
The company has reportedly been unable to secure new funding since January, with several anticipated investments falling through. In a bid to manage liquidity, Good Glamm has explored selling off portfolio brands — including discussions to return Organic Harvest to its original founders.
The financial strain has triggered a wave of exits, including that of former chief people officer Kartik Rao, who has since joined AI recruitment startup Vahan.ai. Freelancers, too, have raised red flags. Copywriter Babita Bharati posted on LinkedIn that she is yet to receive Rs 18,100 for work done with The Moms Co, blaming delays on pending investor funding.
As part of its restructuring, Good Glamm shut down its Vasant Kunj office earlier this year, briefly moved to Greater Kailash, and has since transitioned to a remote model. It is also in advanced talks to sell MissMalini Entertainment to Creativefuel, a marketing agency. Earlier, it sold Sirona back to its founders for Rs 150 crore — a steep markdown from its Rs 450 crore acquisition cost.
Investor confidence appears to have waned. Representatives from Accel, Prosus Ventures, and Bessemer Venture Partners resigned from the company’s board in January. While Good Glamm did raise $30 million in March to support working capital, a larger funding round remains elusive.
