Morado

The next generation B2B marketplace for beauty shops.

Daniel Rodriguez

and

Andres Gonzalez

Apr 17, 2024

Startup Snapshot:

Startup Name: Morado
Industry: Beauty
Business Model: B2B Marketplace for Beauty Products
Founders: Angela Acosta
Team Size: 29 employees
HQ Location: Colombia
Founded: 2022
Investors: AngelHub VC, Village Global, Tiger Global Management, Simon Borrero, QED Investors, Opera Ventures, Norte Ventures, Latitud, H20 Capital, FEMSA Ventures & Simma Capital
Website: https://www.moradocolombia.com/

What does Morado do?

Morado is revolutionizing the beauty industry in Latin America through its innovative B2B marketplace, boasting one of the region's largest selections of beauty products. It offers the convenience of no minimum order requirement, competitive wholesale pricing, and options for next-day or express delivery. Committed to enhancing the customer experience, Morado plans to roll out new features such as self-onboarding, real-time order tracking, and a dedicated mobile app.

Additionally, Morado has launched the Morado Academy, an educational platform that provides beauty businesses access to premium content. This effort is part of its wider mission to empower women within the industry.

Morado has emerged as one of Colombia's most notable startups in a relatively short period. Its strategic advantage stems from a vision to serve as an all-encompassing solution for beauty businesses, incorporating elements such as embedded finance, loyalty programs, private-label solutions, and insightful data analytics. This multifaceted approach distinguishes Morado from its competition.

Why now?

The beauty salon sector is a significant component of the customer service industry in Latin America, encompassing over 700,000 salons and a total of one million entities related to cosmetics and personal care.

Nations such as Brazil, Mexico, and Colombia see a strong consumer base, with Colombia notably having one salon for every 800 residents. Despite this, there has been minimal innovation in the supply chain of this industry for over forty years, with a remarkable 85% of salons not integrating digital technologies. This lack of advancement leads to inherent inefficiencies and limitations within the sector.

For those entering the beauty market, establishing connections with leading beauty brands poses a considerable challenge, which is essential for direct product sourcing from manufacturers. Such direct access is crucial for improving profit margins, as dependence on distributors for consumer-level prices can significantly diminish profitability. Furthermore, the process of attracting both buyers and sellers is difficult and expensive, underscoring the importance of a strong value proposition.

What sets Morado apart?

Morado stands out in the beauty industry due to its holistic approach to solving industry challenges. Founded and led by Angela Acosta, a dynamic entrepreneur with a proven track record in hyper-growth fintech and retail projects, Morado embodies innovation and disruption. Angela's exceptional leadership and industry knowledge drive Morado's success, allowing the company to attract top talent and execute its vision effectively. Unlike competitors, Morado not only offers a marketplace for beauty products but also provides valuable educational resources through Morado Academy. Moreover, Morado's comprehensive vision includes embedded finance, loyalty programs, private label solutions, and data insights, positioning them as a multifaceted and forward-thinking solution provider.

85% of salons have yet to adopt digital tools in LATAM.
90% faster delivery times than the competition.
100+ team members
120+ brands
1,500+ municipalities in Colombia covered by Morado.
11,000+ products
700,000+ salons in LATAM.
1,000,000+ beauty-related businesses in LATAM.

Key Takeaways:

85% of salons in Latin America have yet to adopt digital tools, highlighting a significant gap in the industry's supply chain.
Morado has gained recognition as one of the top startups in Colombia, showcasing its potential for success and impact in the region.
FEMSA has partnered with Morado, indicating the startup's strategic importance and potential for growth.

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