Beauty sampling platform VanityTrove has announced that it has commenced its consolidation in the Southeast Asia market with its acquisition of Rocket Internet’s Glossybox Taiwan.
VanityTrove has much to celebrate this 2013. At the start of the year, the beauty discovery platform reached 10 million followers on Facebook. In the past 12 months, the startup has strengthened its position in South East Asia as a platform for beauty brands to reach an online audience wanting to sample their products.
To facilitate its expansion into the region, VanityTrove has acquired Glossybox Taiwan, and has appointed Sanjay Shivkumar as its new CEO.
Derek Lee, Glossybox CEO, said that combining Glossybox Taiwan with VanityTrove is a logical step for its subscribers. “We are bullish with the overall sampling business and believe we can continue to add value to global beauty brands by focusing our efforts in serving the larger markets,” he said.
VanityTrove CEO Sanjay Shivkumar says the company aims to be the “obvious partner for beauty brands to sample, market and sell their products.” In line with this, the startup is working to ensure that VanityTrove remains number one in the markets it operates in. “Our focus in South East Asia will enable us to serve a growing untapped market largely neglected by the west,” said Sanjay.
This acquisitions consolidates the two companies’ markets, including a total geographic reach of five countries: Singapore, Malaysia, Thailand, Indonesia and Taiwan, with a potential reach of 100 million women in their target market segments. There is more to come, and there is potential in at least two more markets, although Douglas says the team does not want to spread themselves too thin. “We would like to focus in consolidation across the 5 key markets of South East Asia before venturing further.”
The beauty-related industries are active as of late, with Taiwan’s Fashionguide receiving funding from Cyberagent Ventures last month and bellabox receiving Series A funding in the same month. VanityTrove notes that beauty boxes around the world are consolidating, with Birchbox in the U.S. crossing over to Europe with an acquisition by Joliebox. And with Rocket Internet pulling out Glossybox of Southeast Asia to focus in its other markets, this leaves VanityTrove as its sole Southeast Asian counterpart, with the added benefit of a presence in other markets in the region.
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