beauty

Summer International uses social media data to launch new beauty brands • ZebethMedia

By zebethcontrolPosted on November 17, 2022Posted in Asia, beauty, Influencer Marketing, Singapore, social media, south korea, Southeast Asia, Startups, Summer International, wellnessNo Comments

If you follow #beautytok, #beautytube or any beauty content on social media platforms, you know that popular product trends are hard to keep up with. Summer International stays ahead of the game by identifying the most influential content creators, and working with them to incubate new brands. Founded in Singapore and based in Los Angeles and South Korea, Summer International announced today it has raised a $5 million seed round from investors including GDP Ventures, Teja Ventures, Gushcloud International and Singaporean angel investors Koh Boon Hwee and Shirley Crystal Tan. NYX founder and Bespoke Beauty Brands CEO Toni Ko will also join Summer International as a strategic investor. NYX was acquired by L’Oreal in 2014 for about $500 million. Summer International co-founder and CEO Xiaoski Kuik said the company’s goal is to create an ecosystem to help influencers and creators launch and sell beauty brands using consumer data and analytics. It operates in the United States, South Korea, Singapore, the Philippines and Indonesia. The company launched in 2018 along with Gushcloud International, an influencer marketing firm. Since then, Summer International has incubated brands like skincare line Baby Face with Singaporean influencer Jamie Chua, who has over 1.2 million followers, and wellness brands HANJAN, which launched in April at Coachella and recently struck a partnership with singer Nicole Scherzinger. Kuik told ZebethMedia that Summer International looks for creators and influencers who have a strong connection with their audience based on engagement rates, how active they are a video-first platforms and whether they have a strong localized community and global presence. “Many times, creators seek us out because of our reach and resources,” she said. “We have our own supply chain and we have the power to distribute brands across Asia via our social commerce and live distribution platforms. Our goal is to establish these top influencers as founders of the next-gen beauty, skincare and wellness brands and to provide them with the access and necessary resources they need to break into the market.” Other companies that also work with creators to launch brands include Pietra and Forma Brands. Ko said Summer International differentiates by owning its own distribution network and it also has a network of live commerce and social commerce distributors, mainly micro influencers based in Southeast Asia. “It gives us the ability to understand data of what consumers want and would buy and this allows us to collaborate with creators to build brands in a more cost-efficient manner,” Kuik said. Summer International’s live commerce distribution network helps it understand what brands and products consumers from different parts of Southeast Asia want to buy. It also provides data points like pricing and demographics to create new brands and market them. Summer International brands are sold through a mix of digital and offline channels, including e-commerce platforms, social and live commerce platforms and big box stores. They are also available on Summer.store, the company’s proprietary social commerce network.

V3 Ventures launches to put €100M into startups in health, beauty and food • ZebethMedia

By zebethcontrolPosted on October 18, 2022Posted in beauty, Biotech & Health, Commerce, food, Health, StartupsNo Comments

Verlinvest, a family-backed, “evergreen”, growth fund investor, that has previously funded a few well-known consumer brands like Oatly, Vita Coco, Tony’s Chocolonely, Who Gives A Crap, Pedego, Chewy.com, Hint & others, is getting into the venture game. After putting around €50m into VC initiatives globally, it’s now embarking on being the kick-starter LP in a new VC fund dubbed V3 Ventures, the idea being to invest up to €100m into founders and brands directly. While being independent of Verlinvest, V3 will still be able to leverage the former’s international network. The plan is to target startups in the UK, Europe, US, and India, focusing on pre-seed to Series A investments across e-commerce, health and beauty and food and beverage.  Lopo Champalimaud, who previously founded hair and beauty booking platform, Treatwell, after a stint as MD of lastminute.com, is V3’s co-founder. I spoke to Champalimaud about the move and what V3’s strategy would be: “I’ve got over 25 years of being an entrepreneur and I figured the next 25 years helping entrepreneurs build their businesses,” he said. “With V3 we plan to invest in consumer-focused companies, be global, and very much focus on ESG, because that’s where consumers are. It’s really about trying to think about how the consumer evolves and to remain at the forefront of that.” V3’s Indian deals will be led by Arjun Vaidya, who sold the D2C ayurvedic medicine brand to the Dr. Vaidya’s brand. To date, V3 Ventures has already invested in UK-based personalized cat food brand Katkin, US skincare startup Revea, and French supplement experts Cuure.

Thai beauty platform Konvy raises Series A for international expansion • ZebethMedia

By zebethcontrolPosted on October 11, 2022Posted in Asia, beauty, eCommerce, Konvy, Southeast Asia, Startups, ThailandNo Comments

Founded 10 years ago, Konvy is now Thailand’s top beauty e-commerce platform. It plans to accelerate its omnichannel and international distribution with a new Series A of $10 million from Insignia Ventures Partners. Konvy was launched in 2012 by Chinese entrepreneur QingGui Huang, who previously managed fashion e-commerce platforms in China. It now works with more than 1,000 brands, representing SKUs of more than 20,000. Its brand portfolio includes L’Oréal, Shiseido, Sulwhasoo, Eucerin and La Roche-Posay. “Konvy had the advantage of starting in Thailand when there were no really significant e-commerce players there at the time,” Huang told ZebethMedia. “We’ve since leveraged our first mover advantage in Thailand to become a leading e-commerce player in the market.” Konvy founders Leon Huang, Pornsuda Vangvidhayakul and QingHui Huang Konvy’s goal is to help local and international beauty brands take advantage of two major trends. The first is that health and beauty purchases are a priority spending category for Thai consumers and the second is that Thailand sees high rates of e-commerce purchases and social media usage, meaning that young people in Thailand spend an average of about two hours and 55 minutes on social media each day. Huang said he confirmed his assumptions about Thai spending on beauty products through conversations with brands, and that drove his desire to start Konvy. “This opportunity of health and beauty being a priority spending category for Thai consumers is a function of both demand and supply circumstances favoring this consumer behavior over the past decades,” he said. “On the supply side, Thailand has been a manufacturing hub for a lot of international brands for more than 40 years. This has spawned as well a thriving local industry. On the demand side, we see that Thai consumers are plugged into this mindset of ‘upgrades’ when it comes to health and beauty, that is to say, it’s not just about accessing such products but actually looking for the best products and high willingness to spend on the latest trends.” Konvy taps into the high rate of social media usage by developing a feedback loop, where engagements on its partner brands’ not only helps Konvy’s existing portfolio, but also helps more brands in the future. For example, as more Gen Z consumers bought products they saw on TikTok during the pandemic, Konvy made itself more present on that channel. In a statement, Insignia Ventures Partners founding managing partner Yinglan Tan said, “While there may be stronger competitors from horizontal marketplaces in the future, we believe Konvy is best positioned to be the market leader in the online beauty segment given its long-standing brand equity, brand-centric and community-led approach.”