Indonesia-based Social Bella, which runs a string of internet properties in the beauty commerce space, including e-commerce marketplace Sociolla, has announced its first international entry into Vietnam.
The news comes shortly after company raised US$58 million in Series E funding round from Temasek, Pavilion Capital and Jungle Ventures in July.
Social Bella said it will expand into the new market through its e-commerce unit Sociolla.
“Vietnam shares many similarities with Indonesia. We believe that it is the right market for our first international expansion plan,” Co-founder Christopher Madiam said.
Launched in 2015, Social Bella has evolved from being beauty e-commerce to a complete ecosystem that seeks to unlock Indonesia’s growing beauty and personal care market. The company claims that it has created several business units and is estimated to serve around 30 million users in 2020.
One of its major goals is to empower customers to use local brands. ESQA, a vegan cosmetics brand in Indonesia, is one of the local brands that joined Social Bella to expand their market to Vietnam.
“Many Indonesian beauty brands are innovative and they have excellent quality while maintaining affordable price points. The objective will not only be to open distribution access but it will also provide end-to-end supports to ensure proper launch there. To this end, we work closely with our partners to develop a holistic growth plan for Vietnam,” CEO of Social Bella, John Rasjid informed.
According to a report by Cosmetics Design Asia, Vietnam’s beauty and personal care market remains resilient despite the pandemic. The beauty sector in Vietnam specifically saw approximately 80 per cent growth incremental beauty spend coming from online channels.
“Even during COVID-19 pandemic, we can maintain our commitment to serving our consumers in a relevant way while remaining competitive. This year, Social Bella steps out to serve customers in our neighbouring country, while supporting more beauty brands,” Rasjid said.
Last year, Social Bella completed its ecosystem as an integrated beauty-tech and end-to-end brand distributor in Indonesia by launching a flagship omnichannel store in Lippo Mall Puri.
At present, Social Bella owns six physical stores across Indonesia.
—
Image Credit: Social Bella
The post Social Bella expands its beauty e-commerce biz into Vietnam on the back of its recent US$58M funding appeared first on e27.