Hermo

Hermo is a Malaysian e-commerce platform specializing in beauty products, particularly those from Asian brands. The company was founded in 2012 by Ian Chua, Ian Mok, and PohSoon Chong. The founders, who had previous experience selling limited-edition sneakers online, were inspired by the growth of beauty e-commerce in China and identified a gap in the Malaysian market for a dedicated beauty platform. Initially facing challenges in convincing brands accustomed to traditional retail, their first major success was securing a partnership with Taiwanese brand Naruko.

The business operates on a direct-to-consumer, online retail model, selling products through its website, hermo.my. The platform features a wide catalog of skincare, makeup, and other beauty items from over 100 brands, with a significant focus on Korean and Japanese products to meet local demand. Hermo generates revenue through direct sales and employs strategies like flash sales to sell items quickly and offer consumers access to products at lower prices. The company emphasizes product authenticity by partnering directly with brand owners and official distributors.

Hermo secured seed funding in its early years, followed by a US$2 million Series A round in 2015, led solely by Gobi Partners. This investment fueled the company's growth and expansion into Singapore and Indonesia. In May 2017, Hermo was acquired by istyle, a Tokyo-listed company that operates the Japanese beauty portal @cosme. The acquisition involved istyle purchasing a 60% stake for US$13.2 million, providing an exit for early investors like Gobi Partners.

Keywords: online beauty retailer, Malaysian e-commerce, Asian skincare, K-beauty, J-beauty, cosmetics marketplace, skincare products, beauty e-commerce, direct-to-consumer, online retail, beauty platform, Naruko, L'Oréal, innisfree, Laneige, Ian Chua, Gobi Partners, istyle acquisition