Y.O.U, a makeup brand in based in Southeast Asia, announced on Wednesday that it has completed round-C financing of $40 million, led by Hidden Hill Capital and followed by SIG, Gaorong Capital, ATM Capital, eWTP Arabia Capital and M31 Capital. Up to now, Y.O.U has bagged a total of $70 million in financing.
The fresh funds are mainly for Y.O.U’s store expansion, product R&D, global supply chains and talent expansion in overseas emerging markets, further consolidating the brand’s position in the Southeast Asian makeup industry.
As a beauty brand integrating makeup and skin care products, Y.O.U began operating in the Indonesian market at the end of 2018, and has since expanded to the Philippines, Malaysia, Thailand and other countries, covering nearly 40,000 sales points. The company uses global advanced safe ingredients to help modern women to solve skin problems from the inside out. According to Indonesian skin characteristics, Y.O.U has launched a series of localized products such as makeup with skin care functions and anti-aging essence.
The founding team of Y.O.U, which comes from Chinese smartphone brand OPPO, has rich experience developing retail and makeup products in Southeast Asia for many years. The founding team said: “Brand development is subject to the economic level the country it located in. Compared with consumers in countries with a high per capita GDP like China and the United States, users in Southeast Asia are in the stage of pursuing quality brands. In Southeast Asian markets, especially Indonesia, a high entry threshold makes it impossible for overseas products to enter quickly, providing an excellent opportunity for the rise of local brands with a strong channel-expanding ability.”
In terms of sales channel promotion, Y.O.U has completed the online and offline channel layout in just three years, including franchise stores, supermarkets, convenience stores and major e-commerce platforms. Y.O.U has been recognized by a large number of dealers for upgrading the image of sales stores and training shopping guides.
In terms of product R&D, Y.O.U relies on China’s mature makeup supply chain, and has advantages in quality, product upgrading speed and costs.
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Mintel, a world-renowned market research company, disclosed in its latest report that Southeast Asia is listed as the “future market” for the development of the global makeup industry. It is estimated that by 2025, its market size will exceed $300 billion, of which Indonesia, the Philippines and Thailand have a growth potential of over 120%.