Indonesian beauty brand Y.O.U raised $40 million in a new funding found, bringing the brand's total fundraising to $70 million.
WHO: Founded in 2018, Indonesian beauty brand Y.O.U launched in color cosmetics and expanded into skincare that addresses the needs of Southeast Asian consumers. Products are priced for the mass market, with lipsticks for less than $5 and serums for under $15.
WHY: The fresh capital will be used for Y.O.U's store expansion, product R&D, global supply chains, and talent expansion in overseas emerging markets.
IN THEIR OWN WORDS: Y.O.U's founding team comes from Chinese smartphone brand OPPO and has rich experience developing retail and makeup products in Southeast Asia. The founding team said: "Brand development is subject to the economic level the country it [is] 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."
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