If you haven’t already heard the news (TechInAsia and e27), here’s an insider look into Vanitee’s milestones over the past year! And psssttt… we acquired Mefitted.com as a birthday present!
After raising US$3.5m seed round in 2015 from investors such as Luxasia (South East Asia’s largest beauty distributor), @cosme (North Asia’s largest beauty platform) and GARENA (Asia’s largest consumer platform), the beauty service booking app Vanitee has grown to be the largest mobile marketplace for beauty in Singapore.
With over 1,700 beauty artists actively running their app and the top 25th percentile of them earning over $5,000 monthly, Vanitee has clocked in over $110,000 in sales a week.
Vanitee is a dominant player in the following beauty categories: Nails, Makeup, Hairstyling, Brow and Lash. With over 1,700 beauty artists on the platform, Vanitee is Singapore’s largest beauty provider, without owning any beauty salons. This is similar other sharing economy business models such as Uber and Airbnb which are asset light and own no cars and real estate respectively. Unlike its other beauty service booking competitors, Vanitee is focused on building end-to-end system that process payments-to-service-guarantee of beauty services rendered in a reliable and scalable way.
Turning one year old this May 2016, Vanitee is fast becoming known as more than just a marketplace for beauty businesses, but as the definitive platform for beauty artists to build and maintain a credible reputation through online profiles that have real customer bookings with genuine reviews including post-service pictures and work portfolios. Vanitee also offers a full suite of appointment management, single point customer contact centre, CRM, point-of-sale and payment solutions for beauty businesses to grow and strengthen their regular customer base.
Vanitee will be holding her inaugural Vanitee Awards 2016 this year in partnership with Singapore’s No.1 Female Magazine – Her World, Simply Her and SPH Magazines. Vanitee will be the Asia’s first beauty awards focused on recognizing the beauty artists talents – the unsung heroes of the beauty industry. Giving beauty artists a platform to be honored for their excellent skills and service, earning more trust and credibility with consumers.
“We want to empower beauty artists to focus on providing quality service offerings to customers and taking away all the headache and hassle of finding the right technology to grow their business. While looking for potential partnerships with likeminded people to become part of our core management team, we took a keen interest in the way the founders of Mefitted.com ran their business”, Douglas Gan, 32, CEO & Co-Founder of Vanitee.
Mefitted.com is one of a handful of Singapore-based beauty technology start-ups that launched in 2015. The interactive e-directory lists more than 8,200 salons by location and service type, including 120 salon brands such as Spa Esprit Group, Jean Yip, Prep and Porcelain Face Spa to offer Mefitted members exclusive discounts and avenues to leave their reviews. The site also has a community of beauty bloggers who are not paid for their reviews to encourage objectivity.
All 8,200 salons, 120 salon brands and 30 beauty bloggers will be gradually on boarded to Vanitee’s platform over the next few months.
The co-founders of Vanitee and Mefitted met throughout 2015 to share their vision and ideas. In February 2016, Mefitted co-founder Joanne Teo started to seriously look into Vanitee’s acquisition offer and officially accepted to join the founding team of Vanitee in May 2016.
“Similar to Vanitee, Mefitted was formed based on a deep appreciation of the beauty vocation as a craft rather than an occupation in itself. The opportunity to empower beauty artists through disruptive innovation to make a name for themselves was very attractive to me. There is a window of opportunity to elevate the beauty industry to the level of sophistication consumers of travel and food enjoy through booking and discovery websites and apps.” – Joanne Teo, 28, Co-Founder of Mefitted.com.
Ms Joanne Teo was a lawyer and consultant specialising in M&A for 4 years before becoming an entrepreneur.
Having experienced the services of Vanitee’s individual beauty artists first hand, Ms Teo claims individual beauty professionals who want to make a name for themselves, be it freelance or in shops, offers a better quality service and have more passion in delivering excellence.
“When you take away the hassle and headache of choosing which technology to use for Appointment Management, CRM, Point-of-Sale and Payment solutions, the Beauty Artists can focus on delivering high quality services to their customers”, Douglas Gan.
“Having worked with the Vanitee Team since February 2016, it has been deeply rewarding to see beauty professionals live out their dreams because of Vanitee. I’ve seen mothers quit their admin day jobs because the app enables them to run their whole business from wherever they are and offer credit card payment options to their customers, giving them the confidence and tools they need to be entrepreneurs.” says the gregarious and passionate new member of the Vanitee Team, Joanne Teo.
The terms of the deal are not disclosed.
Download the Vanitee app today and experience it yourself! Enjoy 15% off when you use the promocode MEFITTED15 when you make your first booking on Vanitee. Redeem before 31 August 2016.