Hypefast Collaborates with Cosmax Indonesia to Strengthen Investment

E-commerce aggregator startup Hypefast announced that it has collaborated with CosmaxIndonesia from the Cosmax Group, which is engaged in research, development, and production of cosmetic and health products.

This collaboration is carried out to strengthen their support for local brands in the health and beauty sector. Hypefast also revealed that the company is committed to invest in at least 15 local brands beauty and health category by next year, with a funding target of up to 50 billion per brand.

“We recognize that the biggest challenges faced by brands in the beauty and health category usually lie in the area of ​​product manufacturing and supply,” said Achmad Alkatiri, Founder, and CEO of Hypefast.

In his press release, Thursday (11/25/2021), Achmad said, this collaboration is a solution for local beauty brands that are part of their portfolio, as well as those who will join in the future.

Hypefast and Cosmax Collaboration

CEO of Cosmax Indonesia, Cheoing Min Kyoung, said, beauty is the dream of all women. Meanwhile, startups and entrepreneurship are dreams for the younger generation in Indonesia.

According to Min Kyoung, with the collaboration between Hypefast and Cosmax, the two can “realize the dream of driving the business to success.”

The company said that they already have an expert retail team, capital support, and a centralized retail ecosystem and infrastructure.

Hypefast reported that to date, it has received funding for equity of IDR 313 billion, and undisclosed additional debt funding, from investors in Southeast Asia and the world.

It’s used to develop an e-commerce-based local brand ecosystem and is invested in local beauty and health brands who want to join the Hypefast.

Hypefast also mentioned that they have invested in more than 25 local brands from various categories such as fashion, health, beauty, and lifestyle.

Has Received Eve Vegan Certification

On November 25, 2020, PT Cosmax Indonesia has obtained a vegan certificate from Expertise Végane Europe (Eve), making PT Cosmax Indonesia the first cosmetic maaklooncompany in Indonesia to have Eve Vegan certification.

President Director of PT Cosmax Indonesia, Cheong Min-Kyoung, in a press release, Tuesday (12/22/2020), this certification was given for the company’s efforts to provide guarantees not to involve animals, both in the process of obtaining raw materials, packaging, and the whole process. production and innovation.

The Vegan certificate is an addition to the series of achievements that PT Cosmax Indonesia has previously achieved, including GMP certification, ISO, and the Indonesian Ulema Council (MUI) Halal Certificate.

Based on these achievements, said Cheong, PT Cosmax Indonesia is committed to continue to innovate and develop vegan products as a form of fulfilling consumer needs and desires, as well as increasing consumer confidence in vegan cosmetics produced by the company.

According to the Grand View Research Institute USA, global sales of vegan cosmetics will continue to increase and reach 20.8 billion dollars in 2025. Vegan itself is a global beauty trend along with the development of the terms safety, healthy, and clean beauty.

“By adding vegan certification as a support for halal certification, companies can easily provide the needs and desires of clean & safe cosmetics to consumers and customers in Indonesia,” explained Cheong Min-Kyoung.

Expertise Végane Europe (Eve), better known as Eve Vegan, is an independent organization based in France that specializes in the control of vegan products. Even Vegan certification is the main benchmark in the transparency of vegan product control by a legitimate and independent body.

Possession of Eve Vegan certification can be a guarantee that the products produced are free from animal sources (including animal products from breeding, slaughter, hunting and capture), and not testing on animals.

PT Cosmax Indonesia hopes to continue to improve its ability to provide the highest quality products for Indonesian consumers.