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Jofie Yordan · · 6 min readGudangAda’s revenue falls, losses trim in 2024 amid beauty pivot
In 2024, it was reported that Indonesia-based B2B ecommerce platform GudangAda was shutting down. The company denied this at the time and said that new categories like beauty and personal care were showing promise.
Since then, the firm has continued pivoting away from fast-moving consumer goods, instead focusing on the beauty retail segment.
Based on its latest financial statements for 2024, GudangAda’s revenue has continued on a downward trend. In 2024, the figure declined by 31% year on year to US$11.5 million.
During the year, GudangAda posted a loss before tax of US$1.4 million, down by 87% from US$10.5 million in the previous year. Much of this was due to a decline in operating and direct expenses.
It’s unclear how big the company’s beauty and personal care business has grown. In February 2024, the firm said new categories made up 37% of overall revenue.
Tech in Asia reached out to GudangAda but did not receive a response.
GudangAda founder and CEO Stevensang / Photo credit: GudangAda
The financial statements show that the company established four subsidiaries during the year: PT Gudangada Distribusi Globalindo, PT Gudang Cahaya Kecantikan, PT Gudang Pesona Kecantikan, and PT Estetika Mulia Globalindo. All are described as being engaged in the “trading of fast-moving consumer goods and beauty care products.”
GudangAda’s official website and Instagram account have also been updated to feature information on GudangAda Beauty, which offers B2B distribution services for beauty products from various brands.
Jumping on the beauty bandwagon
GudangAda’s focus on the new segment is twofold.
It operates a beauty retail business under the Kaka Beauty brand, which operates four stores located in Bekasi, Sumedang, Depok, and Bandung. It also sells such products directly to merchants via its B2B marketplace, GudangAda Beauty.
Similar to Sociolla, Kaka Beauty sells skincare, makeup, hair care, and body care products from third-party brands like Wardah, Make Over, Emina, and Somethinc. Unlike Sociolla, however, Kaka Beauty stores are not typically located in shopping malls.
Trimming expenses
Some breathing room
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New subsidiaries set up during the year and a social media push suggest the B2B marketplace’s pivot to the beauty and personal care space is well underway.
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