Heaptalk, Jakarta — Indonesia’s beauty startup, Rosé All Day Cosmetics (RADC), has closed a Series A funding round at US$5.41 million, approximately Rp84 billion, led by SWC Global, and is participated by DSG Consumer Partners (DSGCP). On the other hand, the RADC’s seed investor, AC Ventures, also backed this latest investment.
Through the completion of its new funding, RADC aims to continue scaling up its team and hiring across various departments, including marketing, social media, operations, finance, and product development.
On the other hand, RADC will use the fresh capital to broaden its nationwide distribution, expand its market reach into other ASEAN countries, and enhance its product across the board with a continued focus on innovation and technology. This business expansion is claimed to align with its objective to retain brand equity in the market and cater to an increasingly diverse consumer base.
In response to this new accomplishment, RADC Co-Founder Tiffany Danielle conveyed, “We are thrilled to announce our newest partnership with SWC Global and DSGCP. The collaboration represents a significant step in elevating our market existence and operational sophistication in Asia Pacific. We are committed to unlocking new opportunities and delivering wonderful cosmetics products to meet the evolving needs of our customers in the archipelago and beyond,”
Indonesia’s cosmetics and skincare market value is US$800 million and US$2.4 billion, with projected annual growth of around 14% -16 %, and 10% – 15% by 2026. This expansion will be propelled by a robust Millennial and Gen-Z base of 145 million consumers who seek premium products amidst a rising GDP per capita, set to hit US$7,000 by 2026. The significant digital engagement of these consumers also contributed to this market growth, marked by an 89% penetration rate in urban areas, driven by booming e-commerce and social media.
“We are proud to continue supporting Rosé All Day Cosmetics. Their innovative and inclusive approach in the beauty and skincare industry aligns with our ethos of backing transformative companies from their early days. Their ability to adapt to a fast-moving market and respond well to unexpected challenges sets them apart as entrepreneurs in a time when great examples are needed more than ever,” The Founder and Managing Partner of AC Ventures, Michael Soerijadji, said.
Established in 2017, RADC has seen a promising trajectory, starting with a seed investment from AC Ventures in 2020. Further, this direct-to-customer (D2C) startup stands out for its high-quality, clean-beauty makeup and skincare solutions that are cruelty-free, championing natural beauty, inclusivity, and sustainability.
“We hold great confidence in the economic prospects of Indonesia over the next decade. We are captivated by the quality and design of RAD products and impressed by the team’s operational efficiency. We see it rapidly becoming a premier home-grown beauty brand in Indonesia. Our investment and support go beyond capital, and we aim to connect RADC with our Chinese consumer portfolios and help RADC build supply chain support in China.” affirmed Vice President of SWC Global Wendi Xiang.
