This firm’s got skin in the game, yours and mine

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Hello,

“Do you have any idea how left out I feel? Is no one catering to people like me?”

When my friend said “people like me” in this conversation, she was referring to those who have what’s commonly referred to as “normal” skin/hair. And she was joking, of course.

We were making fun of skincare trends in general, but between all the memes and fake feelings of “being left out,” both of us know just how much of a part of the beauty industry we really are – even if we don’t want to publicly harp on it.

The main meat of the conversation was how even mass market products are now tailored to individual needs, such as caring for a mix of dry and oily skin.

I think it’s safe to safe that personalized skincare is having the best run of its life, and Singapore-based Skin Inc is one of the many firms making the best of a market that’s growing at a breakneck speed.

Today we look at:

• Skin Inc’s plans with a Nasdaq listing in 2024
• Indonesian online lender UangTeman’s troubles continue
• Other newsy highlights such as an update on a Temasek subsidiary’s investigation case, as well as Shein’s new address.

— Nikita

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More than skin deep

Image credit: Timmy Loen

Don’t go by the name. Skin Inc CEO Sabrina Tan says the firm is building “the next wellness company – not just skin, but your overall well-being.” It’s for this pipe dream that the Singapore-based company is gunning for an IPO on the Nasdaq in the first half of 2024.

It’s eyeing a post-listing valuation of between US$150 million and US$400 million that includes potential M&As.

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