30 Under 30 Asia 2023: The Young Entrepreneurs Building Innovative Retail Brands

This story appears in the June 2023 issue of Forbes Asia. Subscribe to Forbes Asia

As an investment associate in venture capital, socializing was part of the job, but Lorin Winata was less enthusiastic about the drinking that went with it. That realization gave rise to Melati, her maker of non-alcoholic spirits centered on traditional Asian recipes.

As a result, Winata launched Melati in 2020. It has two products, Melati Classic, a blend of plant-based ingredients, including hibiscus, goji berry and raw cacao, and Melati Fresh, which features green mango, guava and lime rind.

"I always wanted to start my own company, [but] didn't know where to start until I discovered the category of non-alcoholic drinks."

Winata is among the entrepreneurs on this year's Forbes 30 under 30 Asia list: Retail and E-commerce, who are creating innovative and trendy products that meet young consumers’ demands.

The global non-alcoholic spirits market is forecast to more than double to $642 million by 2031, according to U.S.-based Allied Market Research. Drinks giants such as Pernod-Ricard and Diageo are players, with their Ceder and Seedlip brands, respectively, but Winata hopes her premium aperitifs will also appeal due to its superior ingredients.

An elaborate production means that each batch yields only 500 half-liter bottles, priced at S$68 ($52) apiece, the top of the non-alcoholic spirits category. Winata says she sold 7,500 bottles last year, including in Asia's Michelin-starred restaurants.

Winata grew up in Singapore and Jakarta and studied in California before returning to join Indonesia-based venture capital firm East Ventures and then Singapore-based investment outfit Reapra. "I always wanted to start my own company, [but] didn't know where to start until I discovered the category of non-alcoholic drinks," says Winata, who has raised an undisclosed amount from investors. She has set up a Melati branch in Los Angeles to expand into the U.S., where she focuses on retail outlets.

Kaviya Cherian is another entrepreneur on the list drawing on old traditions to create new products. After quitting her job as an actuarial analyst, Cherian rediscovered her passion for the culinary arts. In 2020, she founded Green Heirloom, a brand of cookware and stoneware fashioned by contemporary artisans from across India. Its products range from cast-iron pans and clay curry pots to bronze serving platters. The cookware creators modify traditional cooking designs, such as roti tawa—a large, flat pan made for making roti bread—into lighter and smaller sizes for modern kitchens. Since its launch, the company's revenue increased three-fold, according to Cherian.

Entrepreneurs on this year's Forbes 30 Under 30 Asia list are building their own direct-to-consumer brands to target a new generation of discerning consumers. These brands are also attracting VC money.

In India, Sulay Lavsi founded online underwear brand Bummer in 2021 with the goal of bringing "a feeling of freshness" to India's innerwear market. Bummer's line of products for men and women, including boxers, bralettes and pyjamas, are made from micromodal fabric that the company claims is breathable and eco-friendly. Following its debut on Shark Tank India, the Ahmedabad-based startup garnered a total of $850,000 in funding from investors such as Beenext Asia Fund and Fluid Ventures.

Sulay Lavsi, founder of DTC underwear brand Bummer.

In Indonesia and after years of selling imported protein powder, Clinton Kartawijaya and Sally Varsly decided to build Muscle First in 2017, offering more affordable options and flavors suited to Indonesians tastes. Their big break came during the pandemic when Sally started to share home workouts and health tips on TikTok that went viral, boosting brand awareness. The brand is now among the top sellers in the category on online platforms like Shopee and Tokopedia. The couple say they plan to expand to other healthcare product offerings like Vitamins.

Sally Varsly and Clinton Kartawijaya built their own brand MuscleFirst.

Some Under 30 entrepreneurs are seeing opportunity in the cosmetics and beauty sector, providing local alternatives to international brands.

Tiffany Danielle cofounded Jakarta-based cosmetics and skincare brand Rosé All Day in 2017. From a single lipstick launched back then, the brand now has 77 products of color cosmetics and skin care products sold through its website, online marketplaces like Shopee and Tokopedia and retail outlets. Since the beginning, Danielle has been involved in product development and marketing, working with local artists, beauty influencers and other brands. The company, backed by AC Ventures and GIA Ventures.

Tiffany Danielle, founder of Rosé All Day.

A former investment banker and venture capitalist, Romita Mazumdar similarly founded direct-to-consumer skincare brand Foxtale in 2021 after struggling with India's lack of affordable quality skincare products. Foxtale's products include facial cleansers, sunscreen and Vitamin C serums, priced between 349 and 595 rupees ($4.2 and $8) — a price point that Mazumdar claims ensures return buyers. In 2022, Foxtale raised a $4 million pre-Series A round led by Matrix Partners India and Kae Capital.

Paridhi Goel is another Indian beauty entrepreneur on the list. She turned her hobby of crafting homemade skincare into a business in 2016 by founding Love Earth. The beauty line has expanded to include 150 different products, including its popular rosewater spray. The Delhi-based brand sells its products through Amazon and popular Indian e-commerce platforms, such as Myntra and Nykaa. Goel hopes to expand into new health and wellness products tailored to children.

To learn more about these young entrepreneurs, read the complete Retail & Ecommerce list here – and be sure to check out our full Forbes 30 Under 30 Asia 2023 coverage here.