Robinsons Retail Holdings’ investment arm New Day Ventures, Alibaba International Digital Commerce Group and existing investor Insignia Ventures Partners participated in a second Series A round to fund the multi-brand retailer’s regional expansion.
Launched in 2012, Konvy retails about 20,000 beauty products from more than 1000 global and local brands, including Estée Lauder, La Roche-Posay, Shiseido and Eucerin.
“After Thailand, the Philippines is the next port of entry for mass adoption of beauty products and remains a trendsetter in the industry with their young and digitally savvy population,” said Chinese entrepreneur QingGui Huang, co-founder and chief executive of Bangkok-based Konvy.
Konvy’s initial Series A round in 2022 raised $10 million from Insignia Ventures Partners.
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Sino-Thai Beauty Brand Mistine Raises $31 million in Series A Funding
The 34-year-old brand was founded by Amornthep Derojanawong in Thailand, but entered the Chinese beauty market in 2016 and is now headquartered in Shenzhen.
