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Beauty and personal care startup MyGlamm that’s been on a fundraising spree this year is in advanced talks to buy skincare products company Moms Co for about Rs 500 crore ($67 million), said three sources directly aware of the development.
Moms Co will be MyGlamm’s third acquisition in 15 months, coming at a time when demand for direct-to-consumer or online-first beauty brands is at its peak. More are in the works.
“The share subscription agreement between the two companies is being hammered out,” said one of the sources, adding that the acquisition will be a mix of cash and stock.
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