NAMA Beauty by Luna Maya raises US$5M led by AC Ventures
Published on November 26, 2021
NAMA Beauty, an upcoming direct-to-consumer (D2C) cosmetics and skincare company from Indonesia has completed its US$5M Seed Funding round led by AC Ventures, with participation from SiCepat Ekspres, and DMMX.
NAMA Beauty is set to become a D2C brand that offers high-quality skin care and beauty products at affordable pricing and possesses a strong offline distribution network that allows the brand to have a greater reach to customers throughout Indonesia.
Through existing infrastructure and know-how, the company’s vast logistical and distribution capabilities via partnerships with PT Digital Mediatama Maxima Tbk (DMMX) and PT SiCepat Ekspres Indonesia (SiCepat Ekspres) allow for tremendously scalable operations.
“I have known Luna Maya and Marcel Lukman prior to NAMA Beauty and have been closely following the company’s growth since they started. I also noticed that the beauty industry is one of the most resilient industries in terms of growth, although not without its own challenges. Through the partnerships with SiCepat and DMMX, we will leverage each of our own unique strengths to further assist NAMA in building a high-growth beauty brand and look forward to supporting the company as it scales to reach its full potential,” said Pandu Sjahrir, Founding Partner of AC Ventures.
By working closely with DMMX, NAMA Beauty will have access to offline market distribution networks, spread across more than 20 cities in Indonesia. NAMA Beauty will leverage DMMX’s vast distribution network, sell their products in minimart chains, and access thousands of signage retail and TransJakarta networks, thereby allowing for broader customer reach and brand visibility.
Furthermore, the company will sell its products in a digital commerce platform for the SRC as provided by DMMX, further expanding NAMA Beauty’s distribution channel for a faster scale.
On the other hand, SiCepat Ekspres will serve as the logistics partner of NAMA Beauty by assisting the company in fulfillment and delivery services. All of these factors make NAMA Beauty a promising candidate to disrupt Indonesia’s beauty industry.
“SiCepat Ekspres will be a shipping partner who delivers NAMA Beauty’s cosmetic products to support NAMA Beauty’s growth as a local cosmetic brand that is ready to join the Indonesian cosmetic market. With good quality, competitive price, and supported by SiCepat’s quality delivery, we believe that NAMA Beauty will be able to break into the Indonesian cosmetic market and become a cosmetic brand that is believed by the Indonesian community,” said The Kim Hai, CEO SiCepat Ekspres Indonesia.
“We feel grateful and blessed with the trust and support from AC Ventures, SiCepat, and DMMX, including all the partners and team. This is indeed an exciting time for Indonesia. We believe in the synergy to grow together and maximize the opportunities and momentum,” said Luna Maya, CEO of NAMA Beauty.
NAMA combines strong founder background with promising market
As an Indonesian public figure, Luna Maya, CEO of NAMA Beauty has huge exposure in the community. Luna Maya is one of Indonesia’s leading entertainers and well-known personalities with close to 40M followers across her personal and brand social media channels. She is one of the most influential figures among the beauty consumers in the country.
Marcel Lukman, Co-Founder of NAMA Beauty, on the other hand, has over a decade of experience in retail, being one of the brains behind Atmos and The 707 Company which have brands such as Fred Perry, Nudie Jeans, Superga, And Melissa, among others, under its belt.
Combining Luna Maya’s passion and her creative vision, Marcel Lukman’s expertise in retail, and unparalleled consumer interest, NAMA, and its team can grow and become one of the leading brands in Indonesia and the region.
NAMA Beauty is also supported by the promising growth of the Indonesian beauty market. Colour cosmetics in Indonesia have immense market potential, estimated to reach US$1B in 2023, growing at a CAGR of 16.9%.
Indonesia has a population of 270M, of which 50% are women, and 51% are internet users. Appetite and confidence for locally produced cosmetics are growing. There’s a rising demand in the market for high-quality yet affordable beauty products.
Furthermore, Indonesia’s cosmetic market and growing population of young people create an opportunity for beauty brands to grow and increase their market share.
Marcel Lukman explained that NAMA plans to use the new funding for R&D development, marketing, and branding, hire more talents, and launch a new second-line brand.
Combining Luna Maya’s ability to read the latest beauty trends with a strong R&D team, NAMA Beauty is set to launch a second brand that targets below market prices without having to sacrifice the products’ superior quality.
“Luna Maya’s passion and ingenuity on beauty and wellness can be seen in how she has developed NAMA as a brand. Aiming to make customers feel more empowered through their products, NAMA’s team is laser-focused on making quality beauty and skincare products more accessible across Indonesia. We are excited to support her and the team to build the brand further to become a beauty powerhouse in Indonesia,” said Laura Lestari, VP Investment of AC Ventures.
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AC Ventures is a leading venture capital firm investing in early-stage startups focused on Southeast Asia. It aims to be a generational partner to founders driving positive societal change and economic impact in Indonesia and beyond. Fill out the form below to pitch to us.
