Indonesian beauty-tech startup Social Bella has expanded its business into the first international market, Vietnam. Through its e-commerce arm Sociolla, the company aims to help local Indonesian brands to tap the neighboring country.
John Rasjid, CEO of Social Bella says that, “Many Indonesian beauty brands are innovative and they have excellent quality while maintaining affordable price points.” He has promised end-to-end support of the Vietnam operations and said, “We work closely with our partners to develop a holistic growth plan for Vietnam.”
Christopher Madiam, President of Social Bella discussed with Indonesian media the company’s expansion and said that it chose Vietnam and said, “As one of the fastest-growing markets for beauty and personal care in Southeast Asia, with a young and highly digitalized population, Vietnam shares many similarities with Indonesia.”
Cosmetics Design Asia issued a report this summer and noted that Vietnam’s beauty and personal care market has remained resilient despite the COVID-19 pandemic and that the beauty sector specifically was experiencing an 80% growth in online channels, with many Vietnamese buying cosmetics and skin care products through online platforms such as Lazada, Sendo, Shopee and Tiki.
Social Bella has raised more than $110 million USD in investment funding during the last five years and has evolved from being an e-commerce platform to turn into a digital beauty ecosystem.
It comprises five business units:
• Sociolla – its e-commerce site Sociolla,
• SOCO – its community platform
• Beauty Journal – its beauty and lifestyle website
• Lilla by Sociolla – its mom-and-baby marketplace
• Social Bella – its end-to-end distributor service for beauty and personal care brands
Not all of these business units will launch in Vietnam this year and next, but the company says its Vietnam business model will try to create synergies with its Indonesian business units.