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Good Glamm Group introduces new agile organisational framework Ahead of IPO
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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Summary
The introduction of the new framework is expected to boost the company’s organisational structure and enhance operational efficiency. Good Glamm Group is expected to launch its IPO during Diwali 2025.
The Good Glamm Group, a leader in South Asia’s direct-to-consumer beauty and personal care industry, on Thursday, unveiled its new Agile Organisational Framework. This announcement comes as the group prepares for its highly anticipated initial public offering (IPO) during Diwali 2025.
The introduction of the new framework is expected to boost the company’s organisational structure and enhance operational efficiency.
The newly introduced framework is designed to maximise customer value (internal and external) and streamline the processes across departments. This involves enhancing cross-departmental responsibilities, faster decision-making by empowering junior managers with budget responsibilities, and simplifying organisational hierarchies to eliminate redundancies, the company said in a press release dated April 18.
“This strategic initiative marks the culmination of the company’s final phase of team integration with a steadfast aim to be a profitable company in FY25,” the company said
In addition to the framework, the company has also launched an Entrepreneur in Residence programme and a GlammSOP programme for accelerated vesting of ESOPs. The GlammSOP program is an initiative designed for its high-performing employees that allows for accelerated vesting of their ESOPs at the IPO.
“The GlammSOP programme will also have an additional target based new ESOP pool being issued to senior management that also vests at the IPO. This initiative aims to provide wealth-building opportunities for employees, recognising their invaluable contributions to the company’s success,” the official release mentioned.
The company has also recently announced several changes in leadership roles to strengthen its management team as it gears up for future growth. These include elevating Manan Jain to Group Chief Operating Officer, Kartik Rao to Group Chief People Officer and SVP of Founder Initiatives, appointment of new Group CFO, Kamal Lath, among other significant role advancements within the group.
Darpan Sanghvi, Group Founder and CEO of Good Glamm Group, commenting on the elevation in top executive levels said, “With the Group on a distinctive growth trajectory and now approaching profitability, we are excited to unveil a systematic approach towards an Agile Organisational Framework that will allow us for faster execution in the run-up to our IPO.”
The content-to-commerce company in tandem with these talent developments, wealth creation and organisational changes, remains dedicated towards streamlining processes, fostering professional growth, and bolstering agility.
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