What Mandom Indonesia does

PT Mandom Indonesia Tbk (IDX: TCID) is a publicly listed Indonesian cosmetics and toiletries manufacturer established in 1969 as a joint venture between Mandom Corporation (Japan, 65.2% controlling shareholder) and PT The City Factory. The company manufactures and sells a diversified portfolio of 14 brands across men's grooming (GATSBY as market leader in men's hairstyling, plus Spalding, Tancho, Johny Andrean), women's cosmetics (PIXY), fragrance (Pucelle, Glazelle de Pucelle, Lovillea), hair care (Miratone, Lucido-L, Color Comm.), and body care, with additional export-focused brands (Fresh n Fresh, Style up). Production occurs at two factories within the MM2100 industrial estate in Cibitung, Bekasi — Factory 1 producing all cosmetic products and Factory 2 producing in-house plastic packaging and serving as a logistics center — both certified to ISO 9001:2015 and WRAP Platinum standards.

The company generates revenue through one-time sales of consumer products via three channels: (1) domestic distributor and retail networks supported by marketing offices in Jakarta, Surabaya, and Bandung; (2) brand-specific e-commerce storefronts on Tokopedia, Shopee, and Lazada; and (3) export sales to UAE (re-exported to Africa and the Middle East via GEM Plaza Dubai), Japan, India, Malaysia, Vietnam, and Thailand. Domestic sales account for approximately 67-70% of total net sales. Pricing is set at retail level by brand and channel with no public disclosure, and the company maintains mass-market positioning in Indonesia's personal care segment while exporting under its own and Japanese-parent brand standards.

In 2024, net sales totaled Rp 1,859,368 million (~$116M USD), down from Rp 2,050,460 million in 2023, with a net loss of Rp 124,747 million; the company has characterized 2025 as a recovery year, with H1 2025 net sales of Rp 1.1 trillion (+25.6% YoY) and net income of Rp 48.4 billion. Q3 2025 net sales of Rp 1.58 trillion grew 17.6% YoY, driven by a 37.0% surge in domestic sales. The company also wholly owns PT Alliance Cosmetics (acquired 2021) and ACG International Sdn. Bhd. (Malaysia, 2009), and operates under the corporate slogan 'BE ANYTHING, BE EVERYTHING' introduced in 2021.

Name

Mandom Indonesia

Legal name

PT Mandom Indonesia Tbk

Website

https://mandom.co.id

Company type

Public

Founded year

1969

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

PT Mandom Indonesia Tbk is a publicly listed Indonesian cosmetics manufacturer (IDX: TCID) producing men's grooming, women's cosmetics, and fragrance brands including GATSBY, PIXY, and Pucelle, sold domestically and exported across Asia, the Middle East, and Africa.

Ownership category

akta.pro rank

Product category

Personal Care & Cosmetics Manufacturing

NAICS

Soap and Cleaning Compound Manufacturing (32561)

SIC

Perfumes, Cosmetics & Other Toilet Preparations (2844), Soap, Detergents, Cleang Preparations, Perfumes, Cosmetics (2840)

akta.pro primary industry

Men’s Grooming (Shaving, Beard Care, Aftershave) (CRADANAF)

akta.pro secondary industries

Hair Care (Shampoo, Conditioner, Styling, Treatments) (CRADANAE), Hand & Body Care (Lotions, Creams, Body Oils) (CRADANAC), Personal Fragrances (Perfume, Cologne, Body Sprays) (CRADANAD), Men’s Grooming & Shaving Distribution (CRAOAEAI)

Keywords

• Men's grooming products
• Cosmetics manufacturing
• Hair care products
• Women's cosmetics
• Fragrance products

Headquarters

HQ city

Jakarta

HQ country

Indonesia

HQ region

Asia

Offices5 records

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Infrastructure, Technology or R&D

Revenue model

1. Cosmetics and Toiletries Sales: Mandom Indonesia generates revenue primarily through the manufacture and sale of cosmetics and other products including hair care (GATSBY, Tancho, Mandom, Johny Andrean, Spalding, Lucido-L), skin care and makeup (PIXY), fragrance (Pucelle, Lovillea, Glazelle de Pucelle, Spalding), hair color (Miratone), and other products. The company sells through domestic and export channels, with domestic sales typically representing 65-70% of total net sales. In 2024, net sales were Rp 1,859,368 million (million Rp).

Go-to-market motion2 records

Distribution channels3 records

Marketing channels7 records

Core offering

Mandom Indonesia manufactures and sells cosmetics and personal care products through a portfolio of 14 brands covering men's grooming (GATSBY, Spalding, Johny Andrean), women's cosmetics (PIXY), women's fragrance (Pucelle, Glazelle de Pucelle, Lovillea), and hair care and styling (Tancho, Mandom, Lucido-L, Miratone, Color Comm.). Products are produced at the company's two factories in the MM2100 industrial area, Bekasi, and sold through domestic distributors, e-commerce marketplaces, and export channels.

Product overview

PT Mandom Indonesia Tbk is a cosmetics and consumer products manufacturer offering a diversified brand portfolio across multiple categories including men's grooming (Gatsby, Spalding, Johny Andrean), women's cosmetics (Pixy), women's fragrance (Pucelle, Glazelle de Pucelle, Lovillea), hair care (Lucido-L, Miratone, Mandom, Tancho, Color Comm.), and body care. The company operates through three main product segments: hair care, skin care and makeup, and fragrance. Key brands include Gatsby (men's hairstyling market leader), Pixy (women's cosmetics), and Pucelle (women's fragrance). Products are sold through domestic distribution and export channels to markets including UAE, Japan, India, Malaysia, Vietnam, Thailand, and others.

Differentiator

Problem solved

Functional benefit

Brands

• Gatsby: Total men's grooming brand offering hairstyling, fragrance, body care and face care products. Market leader in men's hairstyling in Indonesia.
• Pixy
• Pucelle
• Miratone
• Lucido-L
• Mandom
• Tancho
• Johny Andrean
• Spalding
• Glazelle de Pucelle
• Color Comm.
• Fresh n Fresh
• Lovillea
• Style up

Products and services

• GATSBY Total men's grooming brand offering hairstyling products (wax, cream, gel, pomade, clay), fragrance, body care, and face care. Market leader in men's hairstyling in Indonesia.
• PIXY Women's cosmetics brand offering a complete range from skin care to base makeup and decorative makeup. Launched in 1987 with PIXY Moisturizing Lipstick.
• Pucelle Female fragrance brand with concept 'The Scent of Cool Beauty Platform.' Offers Splash Cologne, Spray Cologne, Eau De Cologne (EDC), and Eau De Parfum (EDP) products for young urban women.
• Miratone Hair beauty products for women featuring Conditioning Cream Color and Bubble Whip Colorant hair coloring products made with Japanese technology and Halal certification.
• Lucido-L Hair care and styling brand meeting women's needs for fashionable hairstyles. Offers hair nutrition and repair products to make hair soft, smooth, and shiny.
• Mandom Core brand offering hair and body care products, part of the company's original product lineup since 1969.
• Tancho Hair care brand originally the company's founding brand name. Offers hair styling and hair care products including hair cream and hair dye powder.
• Johny Andrean Hair care brand serving the Indonesian market.
• Spalding Brand offering fragrance and body care products for men.
• Glazelle de Pucelle Fragrance sub-brand under the Pucelle family.
• Color Comm. Hair color brand offering hair coloring products.
• Fresh n Fresh Brand serving export markets.
• Lovillea Fragrance brand serving both domestic and export markets.
• Style up Brand serving export markets.

Quantifiable outcome

• GATSBY maintained market leader position in men's hairstyling category
• +2 more outcomes

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Seven partnerships are on record, tiered minor and core.

• Third-party Integrated Waste Management ProvidersminorStrategic or Co-development Partner · 1 January 2025Mandom Indonesia partners with third-party providers for integrated domestic waste management. Waste organic is processed into compost or Black Soldier Fly (BSF) feed, inorganic waste (plastic, paper, glass) is sorted and distributed to recycling partners, and residual waste is processed using RDF (Refused-Derived Fuel) technology for cement production.
• Rumah Sakit Mitra Keluarga Bekasi TimurminorStrategic or Co-development Partner · 12 November 2024Mandom Indonesia collaborated with Rumah Sakit Mitra Keluarga Bekasi Timur to hold a Health Talks session for employees on the topic of Understanding Cancer: Symptoms, Causes, and Latest Treatments. Dr. Arif Kurniawan Sp.B (K) Onk provided education on cancer and metastasis risks.
• KertabumiminorStrategic or Co-development Partner · 21 November 2023GATSBY brand collaborated with Kertabumi, an environmental organization, to plant 1,000 mangrove trees at PIK Jakarta Mangrove Forest, in commemoration of World Tree Day on November 21, 2023. The activity involved dozens of students from various schools in DKI Jakarta.
• PT Alliance CosmeticscoreStrategic or Co-development Partner · 1 January 2021In 2021, Mandom Indonesia completed the acquisition of PT Alliance Cosmetics shares, expanding the company's product portfolio and market presence in the Indonesian cosmetics market.
• GEM Plaza, DubaiminorChannel Partner/ Reseller/ Distributor · 1 January 1995Starting January 1995, Mandom Indonesia began business with GEM Plaza in Dubai, which re-exports products to Africa and Eastern Europe. This established the company's export distribution channel through UAE to African and Middle Eastern markets.
• Mandom Corporation, JapancoreTechnology or Integration · 1 November 1969Mandom Corporation, Japan is the parent company and joint venture partner that established PT Mandom Indonesia (originally PT Tancho Indonesia) in November 1969. The parent company provides technology, quality standards, and strategic direction. Mandom Corporation holds 65.2% of PT Mandom Indonesia's shares and serves as the controlling shareholder.
• PT The City FactorycoreStrategic or Co-development Partner · 1 November 1969PT The City Factory was the original Indonesian joint venture partner when PT Mandom Indonesia (originally PT Tancho Indonesia) was established in November 1969. The company name changed to PT Mandom Indonesia in 2001.

Scale indicators9 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• PT Martina Berto Tbk: Indonesian publicly listed cosmetics manufacturer behind the 'Berkah Amanah' and other brands. Competes in Indonesian mass-market skincare and personal care with similar channel mix.
• Paragon Technology & Innovation: Indonesian halal cosmetics manufacturer behind Wardah, Make Over, and Emina. Closest direct competitor in Indonesian mass and mid-tier women's cosmetics and personal care, competing with PIXY and Gatsby for the same retail and e-commerce shelf space.
• PT Mustika Ratu Tbk: Long-standing Indonesian herbal and traditional cosmetics manufacturer with brands like Mustika Ratu and Surya. Comparable as a domestic Indonesian CPG cosmetics player with overlapping distribution and consumer segments.

Emerging players

• PT Kino Indonesia Tbk: Indonesian-listed consumer goods company with personal care, beverages, and confectionery. Overlaps with Mandom in Indonesian mass-market personal care and shares similar listed-CPG dynamics.

Broad incumbents

• Unilever Indonesia Tbk: Large Indonesian-listed subsidiary of Unilever, with men's grooming (Clear, Dove Men), personal care, and beauty portfolio. Overlaps with Mandom in men's grooming, deodorant, hair care, and women's personal care.
• L'Oréal Indonesia: Indonesian operations of global beauty leader L'Oréal, with mass (Maybelline, Garnier) and professional brands. Competes with PIXY in color cosmetics and with Mandom broadly in beauty retail.
• Lion Corporation: Japanese consumer products company with overlapping men's grooming, oral care, and household categories (e.g., KireiKirei, Gatsby Japan). Comparable as a Japanese CPG peer with adjacent product mix.
• Procter & Gamble Indonesia: Global CPG incumbent with Gillette, Head & Shoulders, Pantene, and SK-II distributed in Indonesia. Competes with Mandom in men's grooming, hair care, and premium personal care.

Others

• Mandom Corporation: Japanese parent and 65.2% controlling shareholder. Operates overlapping men's grooming and personal care brands in Japan and other markets; effectively the strategic principal of PT Mandom Indonesia.
• Sociolla: Indonesian beauty omni-channel retailer and ecosystem player. PIXY and Gatsby products are sold through Sociolla, and Sociolla Award recognition for PIXY shows it as a key retail partner and benchmark.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/mandomindonesia
• LinkedInlinkedin.com/company/pt-mandom-indonesia
• Instagraminstagram.com/mandomfamily
• Xx.com/mandomindonesia

Revenue estimate

Valuation estimate

Number of profiles

Profiles18 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mandom Indonesia