KV Asia has paid $43 million for a 25% interest in Indonesian beauty and personal care brand Victoria Care, convinced by the company’s ability to stay ahead of the curve in a highly fragmented market
More than a decade after its founding, Southeast Asia-focused KV Asia Capital has completed a first investment in Indonesia, acquiring a 25% stake in domestic beauty and personal care brand Victoria Care for IDR613.8 billion ($43 million).
“We are disciplined. We want to invest in good opportunities and good management – and we have found both in Victoria Care. The growth prospects for beauty and personal care in Indonesia are massive, it’s already a $5 billion industry. And management has demonstrated an ability to deliver, even during the pandemic,” says Arliadi Mahadi, a director at KV Asia.