We’ve seen the subscription e-commerce (aka: subcom) model, which delivers a box of goods to your doorstep every month, proving popular in Asia recently. Today, another such startup, Bellabox, which focuses on cosmetics, announced that it has attracted AU$1.3 million (US$1.37 million) in series A funding.
Bellabox operates in Singapore and Australia and was founded in October 2011 by twin sisters Sarah and Emily Hamilton. The startup’s investors in this major round are Lance Kalish from skincare brand Yes To Carrots, and Elevation Capital partner Trevor Folsom. Those two led the round, and there was participation from “a syndicate of tech, beauty, logistics and financial investors” that includes Monash Private Capital, SquarePeg Ventures, and Apex Capital Partners.
According to SGE, the Asia-Pacific make-up and cosmetics market is valued at US$45.7B, not counting China and India. The market is surely big enough for more players to enter and build up. Other beauty box subscription services in Asia include Vanitytrove by seasoned entrepreneur Douglas Gan and also MyLuxBox in China. The same subcom model doesn’t just doesn’t apply to beauty products but also to wine, clothing, and cool Japanese toys.
Bellabox has monthly boxes of cosmetics for both women and men, with annual membership costing AUS$165. The twin sisters started the e-commerce site as they both have a “passion for luxury and discovering ‘the undiscovered’ online.” Emily is the managing director in Singapore, while Sarah runs the Australian side.
For folks who are interested to find out more about beauty box subcom industry in Asia-pacific, you might consider purchasing this report written by the good folks at SGE.
Note: Co-authored with Willis Wee