Glamplus, the SaaS-enabled B2B Beauty Marketplace, has successfully secured approximately INR 16.5 crores in a pre-series A funding round. The funding comes from prominent investors such as Upsparks Capital, Eagle10 Ventures, ITI Growth Opportunities Fund, and Inflection Point Ventures. The round also witnessed participation from Kube VC, along with notable investors Gopal Krishna Varshney and IR Capital Partners. The newly acquired funds will be directed towards expanding B2B operations in Tier I & Tier II cities and venturing into international markets.
Glamplus: Transforming Beauty Businesses with Technology
Glamplus serves as a B2B marketplace, empowering small, medium, and large salons, spas, and retail beauty chains to leverage technology for efficient day-to-day operations. The platform specializes in providing a spectrum of services tailored to meet the diverse needs of its customer base. With a focus on B2B expansion in both domestic and international markets, Glamplus offers a SaaS platform delivering state-of-the-art solutions to optimize efficiency and productivity for its consumers. Additionally, the company provides offline and online beauty product supply, professionals, and personal care services, targeting spas aiming for expansion and market entry into beauty product supply.
Path to Profitability and Focus on Customer Experience
Rohan Singh, Chief Operating Officer at Glamplus, shared the company’s vision of achieving profitability by Q1 2024. He said, “We are on a path to profitability by Q1 24 by creating an impact and reaching small business like salon and beauty stores where they can avail higher fulfilment, faster deliveries and better pricing due to optimized supply chain with no middlemen. Our focus is also on providing quality, genuine professional products. We are also optimising our product supply & delivery experience.”
Investor Perspectives on Glamplus’s Impactful Solutions
Mitesh Shah, Co-Founder at Inflection Point Ventures, highlighted “What team size and cash on hand is needed to oversee business operations, manage inventory, handle customer relations, and maintain an online presence while balancing responsibilities as a small to medium-sized salon/spa owner? Recognizing this challenge, Glamplus offers a comprehensive solution by providing Employee Management, Appointments, Inventory, Expenses, Campaigns, and Analysis services. In an industry saturated with businesses of varying classes, from high-end to low-end, Glamplus creatively addresses a critical need that has long gone unanswered.”
Mohit Gulati, Managing General Partner at ITI Growth Opportunities Fund, said, “Being an early mover in the industry, Glamplus has helped automate salon workflow and minimise unorganised inventory procurement by providing better rates and quick delivery time. It currently hosts around 32 brands. The BPC market in India reached $26.3 billion in 2022 and is expected to reach $38.0 billion by 2028. Glamplus team is well versed in the salon space and have resiliently built the company’s business strategy from the ground up and are scaling operations successfully across cities. Glamplus is well-positioned to take on the B2B beauty market across India and the globe.
Current Operations and Future Expansion Plans
Currently operational in Karnataka, Chhattisgarh, and Odisha, Glamplus caters to a diverse clientele ranging from salons to small and medium-sized beauty stores. The company recently launched a centralized warehouse to streamline order processing, inventory management, and fulfillment, aiming to minimize shipping times and costs while ensuring quicker delivery to customers. Glamplus, operational with a lean team of over 30 members, has listed over 2000 SKUs, registering a commendable 12% annual growth. With a user base of more than 9500 beauty customer clients and over 6 lakhs B2C customers, Glamplus envisions catering to 1000 B2B beauty clients, including luxury salons and small-sized parlors, in the next 6 months.
Also read – ASUS ProArt Display PA32UCXR Unveiled, World’s First 1600-nit Mini LED Monitor
Join our WhatsApp News Channel for quick updates – FYI9 News WhatsApp Channel
