BRI Ventures' Sembrani Nusantara Fund has invested in Brodo, an Indonesian direct-to-consumer shoe brand, marking its entry into the retail sector.
Information on the Target
Brodo, founded in 2010, is a prominent direct-to-customer shoe brand in Indonesia, primarily focusing on men's footwear. Initially starting with leather-based shoes, the company has since diversified its offerings to include canvas sneakers and limited-edition releases. Brodo merges online and offline shopping experiences, operating three physical stores located in Jakarta, Bandung, and Surabaya.
In recent years, Brodo has gained traction among millennial and Gen Z consumers who seek more authentic and personalized brand interactions. Leveraging its unique position in the market, the company aims to redefine local fashion by challenging the dominance of international labels, bringing a fresh perspective to Indonesian footwear.
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Industry Overview in Indonesia
Indonesia's footwear industry is thriving, buoyed by its status as the fifth-largest exporter of leather footwear globally as of 2019, accounting for 5.3% of global exports with a m
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BRI Ventures
invested in
Brodo
in 2020
in a Series A deal