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 Latin American mall giants, Nigerian craft entrepreneurs and the mixed picture of China’s luxury market.
Resourceful leaders are turning to creative contingency plans in the face of a national energy crisis, crumbling infrastructure, economic stagnation and social unrest.
This week’s round-up of global markets fashion business news also features the China Duty Free Group, Uniqlo’s Japanese owner and a pan-African e-commerce platform in Côte d’Ivoire.
Affluent members of the Indian diaspora are underserved by fashion retailers, but dedicated e-commerce sites are not a silver bullet for Indian designers aiming to reach them.