Makeup bag with beauty products. Shutterstock.
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 company that sells makeup, skin care, hair care, fragrance and beauty tools online and in eight brick and mortar stores. It claims to have gathered more than 20 million users in 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 the local market and expanded into Vietnam last year.
L Catterton’s investment will be used to help Social Bella target new Gen Z and Millennial shoppers. The company will also join Social Bella’s board of directors.