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.
Though e-commerce reshaped retailing in the US and Europe even before the pandemic, a confluence of economic, financial and logistical circumstance kept the South American nation insulated from the trend until later.
This week’s round-up of global markets fashion business news also features Korean shopping app Ably, Kenya’s second-hand clothing trade and the EU’s bid to curb forced labour in Chinese cotton.
From Viviano Sue to Soshi Otsuki, a new generation of Tokyo-based designers are preparing to make their international breakthrough.
This week’s round-up of global markets fashion business news also features Latin American mall giants, Nigerian craft entrepreneurs and the mixed picture of China’s luxury market.