(L-R) RADC Co-Founders Cindy Nyoto Gunawan (CEO) and Tiffany Danielle (CMO and Product Head)
Indonesia’s Halal-certified beauty brand, Rosé All Day Cosmetics (RADC), has secured US$5.41 million in a Series A funding round of investment led by SWC Global.
DSG Consumer Partners (DSGCP) and AC Ventures also participated.
RADC will use the fresh capital to broaden its nationwide distribution, expand its market reach into other ASEAN countries, and enhance its product across the board.
The company also intends to scale up its team by recruiting in critical departments, such as marketing, social media, operations, finance, and product development.
Founded in 2017 by Cindy Nyoto Gunawan, Tiffany Danielle, and Samantha Wijaya, RADC brings “high-quality”, clean-beauty makeup and skincare solutions that are cruelty-free and celebrate natural beauty, inclusivity and sustainability.
Also Read: How cruelty-free, Halal-certified D2C cosmetics brand RADC achieved 4X growth in 2022
RADC claims that it registered significant growth attributable to the expanded distribution, increased interest from local e-shoppers, and strong customer retention. In 2022, it saw a 4x increase in annual revenue, followed by a 6x growth in 2023.
Commencing with a modest US$10,000 initial capital, the D2C business said it achieved profitability within a mere 1.5 years of operation.
In 2020, RADC raised undisclosed seed funding from AC Ventures and GIA Venture.
In 2022, Indonesia’s cosmetics and skincare markets, valued at US$800 million and US$2.4 billion, respectively, will experience annual growth of 14-16 per cent and 10-15 per cent until 2026. This expansion is fuelled by a Millennial and Gen Z base of 145 million consumers desiring premium products amid a rising GDP per capita, expected to reach US$7,000 by 2026. The substantial digital engagement, with an 89 per cent penetration rate in urban areas, is attributed to the flourishing e-commerce and social media landscape.
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