Expand to Vietnam, Sociolla Startup Income Doubles
Startup in the beauty sector, Social Bella Indonesia or Sociolla, recorded a two-fold increase in revenue last year. Sociolla will expand to Vietnam in 2020. Tech In Asia reports, Sociolla recorded revenues of US$ 43.5 million last year.
Gross profit also rose 2.2 times to US$ 16.3 million. Even so, Christopher said that Sociolla continued to record business growth during the corona pandemic.
“The number of registered users has more than doubled compared to before the pandemic, much higher than the average increase in e-commerce users in Indonesia of 15% this year,” he said.
Sociolla also recorded an increase in customer loyalty with more than 40% retention in a year. Then, the number of Sociolla stores grew 10 times compared to before the corona pandemic.
The startup has also expanded its exclusive brand portfolio to more than 50 brands. The company also developed 24 multi-purpose warehouses covering all parts of Indonesia to support local expansion.
According to Christopher, Sociolla’s business growth during the coronavirus pandemic was driven by major changes in consumer behavior in shopping. “The new generation of consumers are getting smarter in online shopping,” he said.
Sociolla is also preparing a business growth strategy for next year. Christopher said, Sociollawill aggressively expand its Online to Offline (O2O) business.
The O2O business method is considered to be able to increase customer satisfaction. “We are targeting the inauguration of new stores with three times the number within two years from now,” he said.
Aggressively Do Expansion
In addition, Sociolla will aggressively expand. “This is to carry out our ambition to help local Indonesian brands develop internationally,” he said.
Last year, Sociolla expanded to Vietnam. Currently, Sociolla is also opening several offline stores in the main cities of the Blue Dragon country.
“We are also preparing an aggressive expansion plan in Vietnam in the coming months,” he said. In May, Sociolla received Rp 818 billion in funding from four investors led by US-based investment and fund management company L Catterton.
Meanwhile, other investors who participated were Indies Capital, East Ventures, and Jungle Ventures. Indies Capital is an alternative multi-asset investment manager specializing in private credit investments for the Southeast Asia region.
Co-founder and Managing Partner at East Ventures Willson Weather noted, Sociolla grew significantly last year. This startup is adapting quickly in the midst of the corona pandemic.
The company has the factors that beauty tech-companies need to have, such as integrated content, e-commerce, community, and retail.
Promo to Welcome 11.11
In terms of sales, Chrisanti admitted that promotional programs such as National Shopping Day (Harbolnas) and twin date festivals such as 11.11 were the time she had been waiting for to intensify marketing strategies to pamper customers with a number of discounts and attractive offers.
“We are taking several steps ahead. With the need and demand for quality and safe 100% BPOM beauty and personal care products, Sociolla is pampering customers or beauty enthusiasts every day,” explained Chrisanti.
There are various promos and offers that are presented for #BelanjaCantik at Sociolla every day. Not only applies to online purchases, but also offline purchases at the Sociolla Store, which has now opened 30 Sociolla stores spread across regions in Indonesia.
Every day Sociolla offers discounts of up to 60% starting from November 1st. “So, customers no longer need to wait for a certain time to purchase the desired product,” said Chrisanti.
In addition, Sociolla also offers various promos towards 11.11 such as Great Beauty Adventure on November 9 and Early Bird Wondersale on November 10, where daily vouchers and discounts of up to 60% are available for customers.
Then, to coincide with the 11.11 moment, Sociolla held 11.11 Sociolla Beauty Wonderland by presenting an additional promo in the form of a Flash Sale, where there are a number of products that can be purchased with prices starting from Rp. 11,000, – and free shipping without conditions until November 14, 2021 and shopping vouchers. up to IDR 1,100,000.