Not MS Glow, These Are 5 Cosmetic Companies That Earn Billions of Rupiah Per Month

Recently, rumors circulated that the cosmetics company MS Glow had sales of Rp600 billion (approximately US$40 million) per month.

However, the founder of MS Glow, Shandy Purnamasari, later declared the rumor to be a hoax.

"Who started the rumor about 600 billion rupiah a month? Wow, that's amazing. It wasn't me who said it," Shandy wrote on her Instagram account on Friday (March 25).

"Well, since it's a 600 billion rupiah hoax, I'll just make it a prayer!! Kunfayakun," she continued. (Kunfayakun is an Arabic phrase often used as a prayer or affirmation).

Aside from the conflicting reports about MS Glow, at least five cosmetics companies with monthly sales in the billions of rupiah are currently listed on the Indonesia Stock Exchange (BEI).

These are Mustika Ratu, Martha Tilaar (through Martina Berto), Victoria Care Indonesia, Mandom Indonesia, and Kino Indonesia.

Kino Indonesia recorded the highest sales, at Rp4.02 trillion (approximately US$268 million) in 2020, or approximately Rp335 billion (approximately US$22.3 million) per month.

During the same period, Mandom Indonesia recorded sales of Rp1.99 trillion (approximately US$133 million) or approximately Rp165.8 billion (approximately US$11 million) per month.

Victoria Care Indonesia had annual sales of Rp1.05 trillion (approximately US$70 million) or Rp87.16 billion (approximately US$5.8 million) per month.

Meanwhile, the two long-standing players in the Indonesian cosmetics industry, Mustika Ratu and Martha Tilaar, did not even reach half a trillion rupiah in sales throughout 2020.

In 2020, Mustika Ratu's annual sales were recorded at Rp318.41 billion (approximately US$21.2 million) or approximately Rp26.5 billion (approximately US$1.8 million) per month.

Martha Tilaar's annual sales were Rp297.22 billion (approximately US$19.8 million) or approximately Rp24.8 billion (approximately US$1.6 million) per month.