Beauty technology company Social Bella announced its first overseas expansion with the launch of the beauty e-commerce platform Sociolla in Vietnam.
Demand from beauty enthusiasts in Vietnam was one of the company’s considerations, following a US$58 million funding from investors, such as Singaporean state investment fund Temasek and its private equity subsidiary Pavilion, alongside Singaporean venture capital firm Jungle Ventures.
The beauty and self-care market in Vietnam has stayed robust and adaptive amid the COVID-19 pandemic, a website on cosmetics and the personal care industry. The beauty sector in Vietnam has seen rapid growth in online sales.
Christopher Madiam, cofounder and president of Social Bella, said the company was excited to expand its market internationally. “As one of the fastest-growing beauty and self-care markets in Southeast Asia with a population of a digitally literate young generation, Vietnam bears a resemblance to Indonesia,” Christopher said in a statement. “We’re certain that Vietnam is the right country for our first international expansion.”
John Rasjid, cofounder and CEO of Social Bella, said the company intended to provide access for Indonesian beauty brands to consumers abroad through the expansion. “We’ve witnessed how local beauty brands are getting innovative in releasing quality yet affordable products that can compete with international products,” John said. “With the expansion, we’re not only opening distribution access, but we’re also giving comprehensive support to ensure that their products receive a warm welcome in Vietnam. We are collaborating with a number of our local partners to support a holistic business growth plan in Vietnam.”
ESQA is among the Indonesian brands Sociolla brings to Vietnam. Cindy Angelina, the cofounder of ESQA Cosmetics, said the firm was proud to be part of the expansion. “We’ve experienced significant growth since joining Sociolla in April 2017. Hopefully, this success will continue in Vietnam,” Cindy said.
Established in 2015, Social Bella has several business units, including offline stores under the Sociolla brand, Beauty Journal, and Lilla by Sociolla. In July, the company appointed renowned Indonesian make-up artist Archangela Chelsea as the makeup director of Sociolla.