MAYASIA BUSINESS OUTLOOK8L'Oréal, one of the world's largest cosmetics companies, has announced an undisclosed investment in consumer-focused venture capital firm DSG Consumer Partners. L'Oréal stated that its investment in DSG's fourth fund would be strategic in nature, with a focus on beauty and personal care startups in India and Southeast Asia. The fourth fund from the venture capital firm will reportedly be around $125 million in size. DSG has invested in companies such as Chai Point, an Indian tea and cafe chain startup, Epigamia, a dairy firm, and Raw Pressery, a juice maker. BOLD, L'Oréal's corporate venture capital fund, made the investment. The fund previously invested in Fireside Ventures, an Indian consumer-focused investment fund that has made investments in Mamaearth, Boat, and Slurrp Farm, among others."The Southeast Asia and India region has many of the world's fastest growing, most populous, and young demographic markets", Vismay Sharma, president of L'oreal South Asia Pacific, Middle East, and North Africa, said. "Because the future of consumer brands will be shaped largely in these markets, it is critical to establish a strong connection to its dynamic ecosystem of disruptors and to invest in promising consumer brand startups". The development comes at a time when internet-first beauty and personal care brands like Mamaearth, Sugar, and Nykaa have experienced rapid growth in recent years. According to an ET report from August 16th, 2022, the beauty and personal care category is driving ecommerce consumption in India, with 143 percent growth in volume year on year. In the month of April, Kellogg India announced the appointment of Vinay Subramanyam as the head of marketing for its India and South Asia markets, which include Nepal, Bangladesh, Sri Lanka, and the Maldives. According to the company, he will be in charge of scaling category development, driving strategic initiatives, and overseeing the organization's brand and marketing initiatives. Subramanyam has previously worked at Kellogg in sales development and category marketing roles between 2011 and 2015. He began his new position in April and will be based in Mumbai.He was the Chief Marketing Officer at Pidilite Industries before rejoining Kellogg India. He previously led marketing for Britannia Industries. He has also held various sales and marketing positions throughout his career and has led large, successful teams. In 2002, he began his career at VIP Industries as an Area Sales Manager.Prashant Peres, Managing Director, Kellogg South Asia, commented on the appointment, saying, "We are thrilled to welcome Vinay Subramanyam back to Kellogg". His track record of building large brands, launching successful innovations, and understanding the essence of who we are will bring a new perspective to Kellogg's purposeful marketing agenda, elevating our brand and marketing strategy. He will play an important role in our exciting agenda to reimagine South Asia's food future". NEWSROOMFRENCH COSMETIC BRAND L'OREAL TO INVEST IN SINGAPORE'S DSG CONSUMERKELLOGG INDIA APPOINTS VINAY SUBRAMANYAM AS HEAD OF MARKETING FOR SEA OPERATIONS
< Page 7 | Page 9 >