Beauty Startup Luna Maya Pockets IDR 71 Billion Funding

The direct-to-consumer (D2C) cosmetic and skin care company NAMA Beauty received seed funding of US$ 5 million or around Rp 71.2 billion. This time, the funding was led by AC Ventures, followed by SiCepat Ekspres and DMMX.

NAMA Beauty is a company that was born by Luna Maya’s strong background in creative and beauty with Marcel Lukman’s experience of more than 15 years in the retail sector.

Luna Maya has long been known as a public figure who has a great influence among beauty consumers in Indonesia. Meanwhile, Marcel is an important figure behind brands such as Fred Perry, Superga, and Melissa. With the strength of both, NAMA Beauty is optimistic to revive the Indonesian beauty industry.

“We will use the funds we get to improve research & development (R&D), marketing, and branding. We also want to recruit more talent and launch a new brand line,” said Marcel.

The promising growth of the Indonesian beauty market is also one of the factors that support the potential existence of the NAMA Beauty business. Data from Euromonitor shows that the potential market for color cosmetics in Indonesia is estimated to reach US$1 billion by 2023, with a CAGR growth of 16.9%.

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The Indonesian cosmetic market and the growing population of young women create opportunities for beauty brands to grow, and increase their market share. In addition, consumers also continue to show interest in quality local products at affordable prices.

“NAMA Beauty aims to make women feel more empowered through the products they use. Therefore, we focus on presenting quality beauty and care products that are easily accessible throughout Indonesia,” concluded Marcel.

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