E-commerce giants strive to get a piece of beauty sales in Indonesia
The seven-figure series A funding is led by Venturra Capital, which Sociolla says it will use to invest in its ability to offer a wider product selection and savvy tech applications.
E-commerce is big business and beauty consumers around the globe are looking for more online stores to remember certain aspects of their online navigation and give them a personalised experience.
Sociolla's platform competes with the likes of Singapore's Luxola, a firm acquired by LVMH that covers most of Southeast Asia and claims to act as a direct intermediary between customers and brands regarding order issues and/or demand on the likes of international products.
According to the firm's co-founders Christopher Madiam, John Rasjid, and Chrisanti Indiana; there is no clear e-commerce leader in Indonesia right now - opportunity is rife.
Elsewhere shopping portal Moxy, recently acquired by 'WhatsNew' has plans to be a female focused e-commerce provider in Southeast Asia, as women's purchasing power is on the up.
The Bangkok-based company will try out the idea on Indonesia's markets where cosmetics specifically catered to women will be among the products on offer, before turning to its home country of Thailand.
According to venture Capitalist, Ardent, Indonesia’s local B2C e-commerce market valued at US $2.6 billion.
“As more women join the workforce in Southeast Asia and increase their purchasing power, each consumer can grow with us,” says Shannon Kalayanamitr, CMO, What’sNew Group.
However, the venture will not be without its challenges.
“One of the biggest challenges that any e-commerce player has to face in Indonesia is securing local logistics expertise,” adds Andrew Senduk, Moxy CEO.
“However, we are able to lower our costs through increased efficiency and focus on our core competencies, which are product selection and the customer experience,” he added.