Sirona, which was previously acquired by The Good Glamm Group, has bought back its brand to operate independently, marking a rare case of a startup reclaiming its brand after an acquisition.

“For two years, we nurtured the brand with GoodGlamm before stepping away. We had a good run together, with its highs and lows. But with Good Glamm’s changing priorities, we felt the best way forward was to reclaim the brand and lead its next phase of growth ourselves,” said Deep Bajaj, co-founder of Sirona in a Linkedin post.

This development follows The Good Glamm Group's announcement, four months ago, of its complete acquisition of Sirona Hygiene for Rs 450 crore (around $60 million) in an all-cash deal.

Prior to the final transaction, six months earlier, Sirona’s co-founders, along with The Moms Co and the Indian Angel Network (IAN), reportedly issued a default notice to The Good Glamm Group for not fulfilling the final payment obligations tied to the acquisition.

Media reports suggest that the repurchase is mainly funded by the personal capital of Deep and Mohit Bajaj. Sources indicate that the buyback will take place at a discounted price.
The Good Glamm Group has declined to comment on the matter.

Founded in 2015, Sirona offers a range of innovative feminine hygiene products, such as PeeBuddy (a stand-and-pee device), herbal period pain patches, menstrual cups, period stain removers, anti-chafing creams, and sanitary disposal bags.

In the past year, The Good Glamm Group has encountered financial difficulties, including salary delays and layoffs. Media reports also indicate that the company is currently negotiating a funding round at a much lower valuation.

The Delhi-based firm achieved unicorn status in 2021 with a $250 million funding round.

Last month, several key figures, including Anand Daniel (Accel Partners), Vishal Gupta (Bessemer), and Gaurav Kothari (Prosus Ventures), exited the company, resigning from their roles as independent directors.