SWC Global leads US$5.4M financing for AC Ventures-backed Rosé All Day Cosmetics
Published on December 15, 2023
Earlier today, Halal-certified direct-to-consumer (D2C) Indonesian beauty brand, Rosé All Day Cosmetics (RADC), renowned for its high-quality, clean-beauty, and cruelty-free makeup and skincare solutions, announced it has successfully closed a series A funding round of US$5.41 million led by SWC Global, with participation from DSG Consumer Partners (DSGCP) and the brand’s initial seed investor AC Ventures.
The strategic investment, a testament to RADC’s remarkable growth to date and potential, will propel the brand’s expansion in the Indonesian market and further develop its omnichannel presence.
The round is a milestone for RADC and strongly aligns with its vision of delivering world-class cosmetics from Indonesia to the global market. The deal is a pivotal moment in the company’s journey, as 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.
Wendi Xiang, Vice President of SWC Global, explained, “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; we aim to connect RADC with our Chinese consumer portfolios and help RADC build up supply chain support in China.”
RADC, launched in 2017, has seen a promising trajectory, starting with a seed investment from AC Ventures in 2020. Today, the brand stands out for its high-quality, clean-beauty makeup and skincare solutions that are cruelty-free, championing natural beauty, inclusivity, and sustainability. This series A deal follows a period of significant growth for the company, with its co-founders attributing RADC’s success to increased distribution channels, bolstered interest and traction among local e-shoppers, and strong customer retention.
A Forbes 30 Under 30 entrepreneur in 2023, RADC Co-founder Tiffany Danielle said, “We are thrilled to announce our latest partnership with SWC Global and DSGCP. This collaboration represents a significant step in elevating RADC’s market presence and operational sophistication in Asia Pacific. Together, we are committed to unlocking new opportunities and delivering wonderful cosmetics products to meet the evolving needs of our customers in Indonesia and beyond.”
Sameer Mehta, Head of Southeast Asia at DSGCP, added, “Our core mission is to partner with visionary founders of consumer brands. With the RADC team, we recognized entrepreneurs who demonstrate an unwavering dedication to their customers, consistently delivering top-tier products. Their skill in cultivating a nationally loved brand, marked by outstanding capital efficiency and a strong presence across multiple sales channels, impressed us. It is this blend of dedication, efficiency, and market presence that solidified our decision to support RADC as a standout player in the dynamic beauty care industry.”
Sameer went on to explain that in 2022, Indonesia’s cosmetics and skincare markets were valued at US$800 million and US$2.4 billion, respectively, with projected annual growth of 14-16% and 10-15% through 2026. This expansion will be propelled by a strong Millennial and Gen-Z base of 145 million consumers, seeking premium products amidst a rising GDP per capita, set to hit US$7,000 by 2026. The significant digital engagement of these consumers, marked by an 89% penetration rate in urban areas, is driven by booming e-commerce and social media. Focusing on local values, DSGCP believes brands made in Indonesia, by Indonesians, for Indonesians, will resonate deeply with the aspirations of Indonesia’s burgeoning economy.
RADC plans to continue scaling up its team, hiring across various departments including marketing, social media, operations, finance, and product development. This expansion aligns with its goal to maintain brand equity in the market and cater to an increasingly diverse consumer base. The company is currently seeking to hire a senior HR executive, a creative director, and a general trade lead, among other roles.
Michael Soerijadji, Founder and Managing Partner at AC Ventures, remarked, “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.”