Jakarta: Indonesia-based Social Bella, which runs a string of internet properties in the beauty commerce space, including e-commerce marketplace Sociolla, has announced its first international entry into Vietnam.
The news comes shortly after the company had raised US$58 million in a Series E funding round from Temasek, Pavilion Capital, and Jungle Ventures in July
Social Bella said it will expand into the new market through its e-commerce unit Sociolla.
“Vietnam shares many similarities with Indonesia. We believe that it is the right market for our first international expansion plan,” Co-founder Christopher Madiam said.
Launched in 2015, Social Bella has evolved from being beauty e-commerce to a complete ecosystem that seeks to unlock Indonesia’s growing beauty and personal care market. The company claims that it has created several business units and is estimated to serve around 30 million users in 2020.
