House of cards: Roll-up ecommerce model stumbles as founders reclaim brands amid funding struggles

Deep Bajaj and Mohit Bajaj, founders of the feminine hygiene brand Sirona, believed they had struck the perfect deal in 2022 when the Mumbai-based Good Glamm group acquired a stake in their startup. At the time, Good Glamm was on a buying spree, aggressively acquiring brands to build a direct-to-consumer empire. Backed by a billion-dollar valuation and eager investors, the roll-up ecommerce model seemed unstoppable.