Singapore-based online beauty retailer Luxola nets $10 mln

Luxola has raised $10 million in funding. Transcosmos led the round with participation from previous backer GREE Ventures. Headquartered in Singapore, Luxola is a provider of online beauty products in Southeast Asia.

PRESS RELEASE

Luxola Pte. Ltd. (Luxola) today announced a US$10 million round led by Japan’s transcosmos Inc.(“transcosmos”). Existing investor GREE Ventures, Inc.(“GREE Ventures”) also participated in the round.
“We are thrilled to welcome transcosmos as investors in Luxola. Their vision for e-commerce in the region is well aligned with ours and their expertise around systems support will be extremely valuable in helping to accelerate Luxola’s regional growth,” said Alexis Horowitz-Burdick, founder and CEO of Luxola.
Luxola already offers the largest selection of online beauty products in the region, partnering with over 105 brands, and will use the funds to further expand product selection, increase regional warehouse and operational capacity, and continue to improve the customer experience via enhancements to its platform and mobile technologies.
“Luxola will deploy this capital to continue its pursuit of becoming the premier destination for all things beauty in Southeast Asia through its e-commerce platform Luxola.com and its content platform Lxedit.com. We look forward to being able to offer customers even more, from the best products and service to inspiring and educational content,” said Horowitz-Burdick.
“We believe that there is no other example within ASEAN comparable to Luxola as a reliable cross-border E-Commerce company dealing with cosmetics, and we also think that its business will continue to expand even further in the future keeping pace with the growth of the cosmetics market in ASEAN. Our company offers ‘global E-Commerce one-stop services’ in 31 countries around the world with a central focus on Japan, Europe, America, China and Korea. Through this new capital and business alliance with Luxola, we want to accelerate E-Commerce one-stop services in the ASEAN market and continue to support the E-Commerce development of our corporate clients in the ASEAN market” said Transcosmos President and COO Masataka Okuda.
Previously Luxola raised funding from GREE Ventures, Wavemaker Labs Pte. Ltd., the National Research Foundation of Singapore and other private investors.
About transcosmos Inc.
transcosmos (Headquarters: Tokyo, Japan; President and COO: Masataka Okuda; TSE: 9715) launched operations in 1966. Since then it has combined superior “human resources” with the most up-to-date “technological” capabilities to enhance the competitive strength of its corporate clients by providing them with high value added and superior services. It provides overall IT outsourcing services such as Call Center Services,
Business Process Outsourcing Services, and Digital Marketing Services either as standalone solution or as combined services to its corporate clients to optimize their marketing efficiencies, to expand sales and gain new customers in E-Commerce business, and to improve operational efficiency and reduce clients operational cost for back office and information system operations. Further, these services have been expanded beyond Japan, globally, centered in Asia.transcosmos aims to be the “Global IT Partner” of its corporate clients to provide them with high quality outsourcing services on a global scale.
About GREE Ventures Inc.
GREE Ventures, Inc. makes Series A investments in start-up companies that have the potential to play an active regional role in East Asia and Southeast Asia. Staffed by experienced professionals with offices in Singapore and Tokyo, GREE Ventures, Inc. provides strategic partnership and mentoring to young start-up companies. GREE Ventures, Inc. is the venture capital arm of GREE, Inc. (TSE:3632), a global mobile social company

 

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