— This is the script of CNBC's news report for China's CCTV on May 12, Monday.
Welcome to the CNBC Business Daily.
Alexis Horowitz Burdick is among the growing number of e-commerce entrepreneurs in the region.
She founded Luxola dot com three years ago and continues to grow the cosmetics e-tailer beyond its home base in Singapore.
Oriel Morrison has more.
Beauty is big business in Asia.
Euromonitor puts it at a 9 billion dollar industry and growing.
Singapore based Luxola dot com believes one area that's lacking, is online cosmetics sites, that aren't dealing in grey or black market products.
[Alexis Horowitz Burdick / Founder & CEO, Luxola] "I think that e-commerce is an amazing op in SEA right now, I think it's an area that's underserved and there's so much room for improvement."
Under the Luxola umbrella today, some 200 brands from SK2 to BECCA Cosmetics... plus a section for men's products. In addition, the company operates Lxedit, an online content site providing beauty advice.
Today, Luxola has grown its main hub and expanded its warehouse in Singapore... while localizing operations in Indonesia and Thailand. But it's already looking beyond Southeast Asia's shores, to India, China and the Middle East.
[Alexis Horowitz Burdick / Founder & CEO, Luxola] "You've just raised $10 mn, so what is the money for? What are you going to be doing with it?
The money is really to continue to increase that customer service level to sort of a whole new level of experience for customers. So for us, that really means spending pretty significantly on operations. We're also expanding. We were an incredibly lean team for such a long time. For the first three years of the biz, we really had 10 pple working. Now we have 45, and that's happened in a very short period of time, so that we can successfully deploy the capital and focus on areas where we haven't been able to perform.
Are you profitable now?
No, nor are we trying to be.
How far away are you from that?
We're probably about 18-24 months to profitability. So as I'm sure everybody knows about e-commerce, Amazon has been profitable maybe twice over the past 12 years. It's not always about profitability in e-commerce. We certainly want to be there at some point. Right now for us, it's really about growth, expansion."
That goal remains to grow her online store to become the top beauty destination in Southeast Asia... And like any entrepreneur, she has encountered mistakes along her journey.
[Alexis Horowitz Burdick / Founder & CEO, Luxola] "Personally, one of the biggest mistakes I've made are things moving too quickly and not being focused enough."
And as she has learned not to stress the small things, Horowitz Burdick also had to mature into the CEO role.
Dealing with the problems facing many at the top… attracting and retaining talent… the right talent, who can execute her passion and vision for Luxola.
That wraps up this edition of the Business Daily.
I'm Sri Jegarajah, reporting from CNBC's Asian headquarters
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