'Beauty's Uber' startup acquires Singaporean rival
Beaupass, a booking website that links consumers up with local beauty and wellbeing practitioners, has announced the acquisition of rival service marketplace Wellnessly.
It comes as part of Beaupass’s plan for expansion across the wider Southeast Asia region, with Tech in Asia reporting that Hong Kong, Taiwan, Bangkok and Jakarta are the key locations next in its sights.
Catering to the demands of consumers on a local level is becoming an increasing priority for beauty service providers and brands in the region.
“We like what the [Wellnessly] team has done,” Low Elvin, Beaupass CEO, explained in a statement. “It’s one of the very few beauty sites the locals find really useful.”
Startups: getting competitive
Southeast Asia is proving an increasingly competitive landscape when it comes to beauty startups.
Along with Wellnessly, Singapore plays host to various big names on the beauty service provider startup scene, including Vanitee (valued at USD 3.5 million in its series A round, which also has its sights set on Malaysia), and similarly named global rival Vaniday.
“As consumers continue to prefer experience over possessions it will be pertinent for beauty companies to respond appropriately,” research firm Kline recently observed of the rise in social, service-focused beauty apps.
“Beauty apps will remain an important tool when it comes to generating interest in a brand and creating loyalty for a brand, company or retailer.”
Although currently very popular within individual nations, Beaupass’s latest acquisition taps into a rising trend of key players now gearing up for cross-border expansions.
Indeed, rival Vaniday only recently entered the Asia region following a €15 million investment from various sources, which the startup is explicitly putting towards global expansion.
“We don’t see any global competitors, we only see national-wide new players entering the market,” CEO Maxime Legardez recently told Tech Crunch, explaining the company's eagerness to take the lead globally.