Cosmetics wholesale startup called for 2 million USD

Participating in funding this startup include funds Alpha JWC Ventures, January Capital, Venturra Discovery, FEBE Ventures, and other angel investors. Founded in January 2022, this is a B2B e-commerce platform, specializing in providing wholesale sources and digital transformation solutions for small online cosmetic businesses.

Aemi was founded by Vu Kim Ngan and Nguyen Qui Hieu, who were classmates in Singapore. CEO Vu Kim Ngan used to have six years as a manager at Bain & Company, with expertise in distribution and retail consulting. Meanwhile, CTO Nguyen Qui Hieu used to work as a senior management engineer at Grab and One Mount Group.

When they returned to Vietnam to decide to start a business, both realized that the domestic cosmetics market was growing rapidly, but small merchants did not have many solutions in solving the problem of supply and how to close and manage orders. effective. Therefore, they often import goods of unknown origin or poor quality, affecting customer confidence.

Meanwhile, suppliers have not taken advantage of e-commerce channels via social networks to expand revenue. “According to my observations, brands still focus heavily on brick-and-mortar stores to increase awareness. However, today’s business is a battle of social networks, online shopping, and online shopping. door-to-door service,” shared Kim Ngan.

Therefore, the two decided to work together to build a cosmetic wholesale platform for small-scale retailers, to solve the problem of sourcing and sales productivity with technology. The platform is currently attracting about 1,000 small merchants.

After receiving $ 2 million, the two founders said that in the immediate future, they will focus on developing the domestic market, taking the cosmetics and health care segment as the core. Qui Hieu said that the platform continues to improve its features, from managing product catalogs, managing orders to supporting sales interactions. In addition, this startup is also completing a marketing library on the platform for small businesses to take advantage of high-quality resources (images, content…) to support product communication.

Statista’s report forecasts, the revenue of Vietnam’s personal care and beauty products market in 2021 is estimated at 2.3 billion USD and growing at an annual rate of 5.9% to 2025. This year alone, market size can reach 2.45 billion USD.

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