Partnership to Support Sociolla's Continued Growth to Meet Rising Consumer Demand
Transaction Marks L Catterton's First Investment in Indonesia
SINGAPORE, May 5, 2021 /PRNewswire/ -- L Catterton, the largest global consumer-focused private equity firm, today announced an investment in Social Bella International ("Sociolla" or the "Company"), the leading beauty and personal care e-commerce player in Indonesia. Founded in 2015, Sociolla is Indonesia's premier beauty shopping destination, offering authentic make-up, skin care, hair care, fragrance, and beauty tools. The Company has rapidly grown to offer beauty enthusiasts an omnichannel shopping experience through its e-commerce platform and Sociolla stores.
L Catterton will join the Company's board and support the founders in reaching new consumers and meeting the growing demand within the beauty and personal care category. This investment will provide more Gen-Z and Millennial consumers with access to Sociolla's trusted and curated high-quality beauty and personal care brands in Indonesia and Vietnam, empowering its loyal consumer base to look and feel better.
"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," said Yock Siong Tee, L Catterton Principal and Investment Lead for Southeast Asia. "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."
"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."
L Catterton has significant experience investing globally in the beauty and personal care category. Current and past investments include Marubi, S.p.A., IL MAKIAGE, Intercos, Function of Beauty, TULA, Frederic Fekkai, and many others. This investment will be L Catterton's first investment in Indonesia and will join an expanding portfolio of high growth, tech-enabled consumer companies in Asia.
About L Catterton
With over $25 billion of equity capital across its fund strategies and 17 offices around the world, L Catterton is the largest global consumer-focused private equity firm. L Catterton's team of nearly 200 investment and operating professionals partners with management teams around the world to implement strategic plans to foster growth, leveraging deep category insight, operational excellence, and a broad partnership network. Since 1989, the firm has made over 200 investments in leading consumer brands. For more information about L Catterton, please visit www.lcatterton.com.
About Social Bella International (Sociolla)
Sociolla is the leading beauty and personal care platform in Southeast Asia, founded in 2015 as a digital platform and has since then grown into the #1 specialty beauty omnichannel retailer and ecosystem in Indonesia. As a regional pioneer in online specialty retail, Sociolla commands strong engagement and advocacy in the category through its integrated platforms across Sociolla, Soco, Beauty Journal, Lilla, and SDI. For more information about Sociolla, please visit www.sociolla.com.
Contacts
L Catterton
Andi Rose / Julie Hamilton (U.S.)
Joele Frank, Wilkinson Brimmer Katcher
+1 212-355-4449
L Catterton Asia
Bob Ong (Asia)
+65 6672 7619
