The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Social Bella International (Sociolla) raised 818 billion rupiah ($56.6 million) in funding led by LVMH-backed private equity firm L Catterton in the latter’s first investment in Indonesia, DealStreetAsia reports.
Social Bella is a six-year-old business that sells make-up, skincare, haircare, fragrance and beauty tools online and in eight physical stores. It claims to have amassed more than 20 million users across its Sociolla, SO.CO and Beauty Journal platforms in 2019, the same year the company launched its first flagship store. Social Bella also distributes and develops beauty brands in its local market and expanded into Vietnam last year.
L Catterton’s investment will go towards helping Social Bella target new Gen Z and Millennial shoppers. The firm will also join Social Bella’s board of directors.
This week’s round-up of global markets fashion business news also features Supreme’s long-awaited Shanghai flagship opening, India imposes MIP on undervalued imports of synthetic knitted fabric and striking Sri Lankan workers continue to protest.
Imran Amed shares his observations from a trip to the wealthy desert metropolis, home to the most lucrative stores for many of the world’s top fashion brands.
Spurred by rapid growth in the pure luxury market, global brands operating in lower-priced segments like contemporary fashion are entering the country or accelerating expansion plans.
This week’s round-up of global markets fashion business news also features India’s textile industry, Chinese beauty major Yatsen and Ghana’s newest garment factory.