THE WHAT? L Catterton has announced an investment in leading Indonesian beauty e-commerce platform, Social Bella International (Sociolla). Terms of the deal were not disclosed.
THE DETAILS L Catterton will join the company’s board and support the founders in reaching new consumers and meeting growing demand within the sector.
“The team at Sociolla is delighted to welcome L Catterton as a strategic shareholder and partner,” said Christopher Madiam, John Marco Rasjid, and Chrisanti Indiana, Co-founders of Sociolla. “L Catterton will support Sociolla to engage and reach our ever-growing consumer base as we continue to roll out the #1 beauty ecosystem with our integrated platforms in Southeast Asia: Sociolla, Soco, Beauty Journal, Lilla, and SDI. We are confident that L Catterton’s global expertise in the consumer sector will position us for continued success.”
THE WHY? The investment will provide more Gen Z and Millennial consumers with access to Sociolla’s beauty and personal care offer in Indonesia and Vietnam. Yock Siong Tee, L Catterton Principal and Investment Lead for Southeast Asia, explains, “The beauty and personal care category continues to see increasing penetration around the region with innovative players like Sociolla providing consumers with greater options, premium products, and improved accessibility both online and offline. Sociolla’s innovations have delighted both consumers and brand principals equally in this attractive category. We are delighted to partner with a team that has demonstrated a strong track record of helping beauty brands rapidly grow in Indonesia to achieve an at-scale platform, and we look forward to supporting Sociolla in the next chapter of its growth.”