Sirona founders in final stages to reacquire brand from Good Glamm Group

New Delhi: Deep Bajaj and Mohit Bajaj, the founders of Sirona Hygiene, are in the final stages of repurchasing their women's wellness brand from Good Glamm Group. 

According to the news reports, the transaction, currently valued at around Rs 150 crore, includes the repayment of debts Sirona accumulated under Good Glamm's ownership.

Sirona was acquired by the Good Glamm Group in October 2024 for Rs 450 crore in an all-cash deal. This acquisition was one of the largest cash exits for a direct-to-consumer startup in the women's health sector.

Over the past year, Good Glamm has encountered numerous financial hurdles, including delayed salary payments, layoffs, and a sharp valuation drop. The group is now negotiating a funding round at a significantly reduced valuation, indicating severe cash flow issues.

The reports state that the buyback deal entails that Sirona's founders will assume debt liabilities ranging from Rs 160-180 crore, which includes obligations to banks, lenders, and vendors. This debt will be renegotiated and partly refinanced as part of the transaction's conditions.

The repurchase is primarily being funded by the personal capital of Deep and Mohit Bajaj, showcasing their commitment to reclaiming and revitalising the brand. However, there might be considerations for external funding in the future to support Sirona's growth.

Known for products like PeeBuddy, menstrual cups, and sustainable menstrual hygiene solutions, Sirona has carved a niche in India's femtech market. The founders aim to rebuild vendor relationships, stabilize the company's financials, and continue innovating in women's health.

The group, which initially expanded aggressively through acquisitions, is now in a position where divesting assets like Sirona might be necessary to manage its debt and operational costs.