Good Glamm scraps plan to purchase Raymond’s shopper biz

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Good Glamm Group, the direct-to-consumer beauty and personal care conglomerate, has abandoned plans to acquire Raymond’s consumer care business due to a valuation mismatch.

The group was reportedly in talks to buy the patron care enterprise, which owns the Park Avenue and KamaSutra brands, for 2,500-2,800 crore in cash and stock. When contacted, Darpan Sanghvi, co-founder and CEO of Good Glamm, stated that the company had called off a large transaction. He declined to elaborate, citing confidentiality clauses, but stated that there have been valuation disagreements.

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Good Glamm scraps plan to purchase Raymond’s shopper biz

Good Glamm Group, the direct-to-consumer beauty and personal care conglomerate, has abandoned plans to acquire Raymond’s consumer care business due to a valuation mismatch.

The group was reportedly in talks to buy the patron care enterprise, which owns the Park Avenue and KamaSutra brands, for 2,500-2,800 crore in cash and stock. When contacted, Darpan Sanghvi, co-founder and CEO of Good Glamm, stated that the company had called off a large transaction. He declined to elaborate, citing confidentiality clauses, but stated that there have been valuation disagreements.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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