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Founded in 2013, Naiise is a homegrown lifestyle and design retailer known for its curated collection of locally-made products. The company started as an online retailer but has since opened brick-and-mortar stores in Singapore and Malaysia. The business has also expanded into the United Kingdom market, having opened a month-long pop-up store in Shoreditch, London in 2017.<ref>Tay Suan Chiang. "[https://www.businesstimes.com.sg/lifestyle/weekend-interview/dennis-tay Weekend Interview: Dennis Tay]". ''The Business Times''. January 14, 2017. Accessed on 26 February 2020. </ref><ref>Law, Katie. "[https://www.standard.co.uk/lifestyle/london-life/naiise-london-popup-truman-brewery-singaporean-lifestyle-brand-dennis-tay-amanda-eng-a3669461.html Naiise in London: meet the power couple behind the cult Singaporean lifestyle store]". ''Evening Standard''. October 27, 2017. Accessed on 27 February 2020.</ref> As of 2020, Naiise stocks 800 brands across its physical stores and website of which 600 are based in Singapore.<ref>Lam, Fiona and Mui, Rachel. "[https://www.businesstimes.com.sg/consumer/design-retailer-naiise-apologises-for-payment-delays-after-brands-exit Design retailer Naiise apologises for payment delays after brands exit]". ''The Business Times''. January 21, 2020. Accessed on 26 February 2020.</ref>
Founded in 2013, Naiise is a homegrown lifestyle and design retailer known for its curated collection of locally-made products. The company started as an online retailer but has since opened brick-and-mortar stores in Singapore and Malaysia. The business has also expanded into the United Kingdom market, having opened a month-long pop-up store in Shoreditch, London in 2017.<ref>Tay Suan Chiang. "[https://www.businesstimes.com.sg/lifestyle/weekend-interview/dennis-tay Weekend Interview: Dennis Tay]". ''The Business Times''. January 14, 2017. Accessed on 26 February 2020. </ref><ref>Law, Katie. "[https://www.standard.co.uk/lifestyle/london-life/naiise-london-popup-truman-brewery-singaporean-lifestyle-brand-dennis-tay-amanda-eng-a3669461.html Naiise in London: meet the power couple behind the cult Singaporean lifestyle store]". ''Evening Standard''. October 27, 2017. Accessed on 27 February 2020.</ref> As of 2020, Naiise stocks 800 brands across its physical stores and website of which 600 are based in Singapore.<ref>Lam, Fiona and Mui, Rachel. "[https://www.businesstimes.com.sg/consumer/design-retailer-naiise-apologises-for-payment-delays-after-brands-exit Design retailer Naiise apologises for payment delays after brands exit]". ''The Business Times''. January 21, 2020. Accessed on 26 February 2020.</ref>


== Background ==
==Background==
[[File:Dennis Tay Naiise.png|thumb|''Dennis Tay is the founder and CEO of multi-label retailer Naiise. Photo from [https://generationt.asia/people/dennistay Generation T].'']]
[[File:Dennis Tay Naiise.png|thumb|''Dennis Tay is the founder and CEO of multi-label retailer Naiise. Photo from [https://generationt.asia/people/dennistay Generation T].'']]
The brand name "Naiise" (pronounced as "nice") encompasses the direction and value that the company hopes to uphold.<ref>"[http://thecathay.com.sg/trending/beyond-brand-interview-naiise BEYOND THE BRAND: INTERVIEW WITH NAIISE]". ''The Cathay''. October 25, 2016. Accessed on 26 February 2020.</ref> The name is also meant to draw in local consumers.<ref>Chan, Kimberly. "[https://www.businesstimes.com.sg/companies-markets/emerging-enterprise-2017/naiise-story-about-designs Naiise story about designs]". ''Business Times''. September 7, 2017. Accessed on 26 February 2020. </ref> Naiise was founded by Dennis Tay who in 2018, was featured on the Gen.T List for his contributions to the local creative and retail industries.<ref>Chong Seow Wei. "[https://sg.asiatatler.com/dining/chasing-the-entrepreneur-dream-with-naiises-dennis-tay Chasing The Entrepreneur Dream With Naiise's Dennis Tay]". ''Singapore Tatler''. August 8, 2018. Accessed on 26 February 2020.</ref><ref>"[https://generationt.asia/people/dennistay Dennis Tay]". ''Gen T.'' Accessed on 26 February 2020.</ref>
The brand name "Naiise" (pronounced as "nice") encompasses the direction and value that the company hopes to uphold.<ref>"[http://thecathay.com.sg/trending/beyond-brand-interview-naiise BEYOND THE BRAND: INTERVIEW WITH NAIISE]". ''The Cathay''. October 25, 2016. Accessed on 26 February 2020.</ref> The name is also meant to draw in local consumers.<ref>Chan, Kimberly. "[https://www.businesstimes.com.sg/companies-markets/emerging-enterprise-2017/naiise-story-about-designs Naiise story about designs]". ''Business Times''. September 7, 2017. Accessed on 26 February 2020. </ref> Naiise was founded by Dennis Tay who in 2018, was featured on the Gen.T List for his contributions to the local creative and retail industries.<ref>Chong Seow Wei. "[https://sg.asiatatler.com/dining/chasing-the-entrepreneur-dream-with-naiises-dennis-tay Chasing The Entrepreneur Dream With Naiise's Dennis Tay]". ''Singapore Tatler''. August 8, 2018. Accessed on 26 February 2020.</ref><ref>"[https://generationt.asia/people/dennistay Dennis Tay]". ''Gen T.'' Accessed on 26 February 2020.</ref>


=== Founding ===
===Founding===
Before founding Naiise, Dennis Tay started a creative agency where he was exposed to the financial reality of creatives in Singapore.<ref>"[http://thecathay.com.sg/trending/beyond-brand-interview-naiise BEYOND THE BRAND: INTERVIEW WITH NAIISE]". ''The Cathay''. October 25, 2016. Accessed on 26 February 2020.</ref> Due to low local demand, these individuals were struggling to create or sell their work.<ref>"[http://thecathay.com.sg/trending/beyond-brand-interview-naiise BEYOND THE BRAND: INTERVIEW WITH NAIISE]". ''The Cathay''. October 25, 2016. Accessed on 26 February 2020.</ref> Dennis then kickstarted Naiise with a starting capital of S$3,000<ref>Chia, Rachel Genevieve. "[https://www.businessinsider.sg/the-founder-of-singapore-brand-naiise-made-his-girlfriend-his-first-employee-and-doing-business-together-led-them-to-marriage The founder of Singapore brand Naiise made his girlfriend his first employee – and doing business together led them to marriage]". ''Business Insider Singapore''. April 1, 2019. Accessed on 26 February 2020.</ref>, hoping that the company will create more entrepreneurship opportunities for creatives. Within the first year of its inception, Naiise made S$30,000.<ref>Tay Suan Chiang. "[https://www.businesstimes.com.sg/lifestyle/weekend-interview/dennis-tay Weekend Interview: Dennis Ta]y". ''The Business Times''. January 14, 2017. Accessed on 26 February 2020. </ref>
Before founding Naiise, Dennis Tay started a creative agency where he was exposed to the financial reality of creatives in Singapore.<ref>"[http://thecathay.com.sg/trending/beyond-brand-interview-naiise BEYOND THE BRAND: INTERVIEW WITH NAIISE]". ''The Cathay''. October 25, 2016. Accessed on 26 February 2020.</ref> Due to low local demand, these individuals were struggling to create or sell their work.<ref>"[http://thecathay.com.sg/trending/beyond-brand-interview-naiise BEYOND THE BRAND: INTERVIEW WITH NAIISE]". ''The Cathay''. October 25, 2016. Accessed on 26 February 2020.</ref> Dennis then kickstarted Naiise with a starting capital of S$3,000<ref>Chia, Rachel Genevieve. "[https://www.businessinsider.sg/the-founder-of-singapore-brand-naiise-made-his-girlfriend-his-first-employee-and-doing-business-together-led-them-to-marriage The founder of Singapore brand Naiise made his girlfriend his first employee – and doing business together led them to marriage]". ''Business Insider Singapore''. April 1, 2019. Accessed on 26 February 2020.</ref>, hoping that the company will create more entrepreneurship opportunities for creatives. Within the first year of its inception, Naiise made S$30,000.<ref>Tay Suan Chiang. "[https://www.businesstimes.com.sg/lifestyle/weekend-interview/dennis-tay Weekend Interview: Dennis Ta]y". ''The Business Times''. January 14, 2017. Accessed on 26 February 2020. </ref>


=== Business model ===
===Business model===
Naiise operates as a multi-label retailer and makes profit on a consignment basis.<ref>Lam, Fiona and Mui, Rachel. "[https://www.businesstimes.com.sg/consumer/design-retailer-naiise-apologises-for-payment-delays-after-brands-exit Design retailer Naiise apologises for payment delays after brands exit]". ''The Business Times''. January 21, 2020. Accessed on 26 February 2020.</ref> In a 2017 interview with ''The Business Times'', Dennis shared that Naiise stocks brands that have original, quality products that must also be useful in daily life.<ref>Tay Suan Chiang. "[https://www.businesstimes.com.sg/lifestyle/weekend-interview/dennis-tay Weekend Interview: Dennis Tay]". ''The Business Times''. January 14, 2017. Accessed on 26 February 2020. </ref> Naiise's diverse products are sold at a wide range of price points and broadly targeted at the general public.<ref>Chan, Kimberly. "[https://www.businesstimes.com.sg/companies-markets/emerging-enterprise-2017/naiise-story-about-designs Naiise story about designs]". ''Business Times''. September 7, 2017. Accessed on 26 February 2020. </ref>
Naiise operates as a multi-label retailer and makes profit on a consignment basis.<ref>Lam, Fiona and Mui, Rachel. "[https://www.businesstimes.com.sg/consumer/design-retailer-naiise-apologises-for-payment-delays-after-brands-exit Design retailer Naiise apologises for payment delays after brands exit]". ''The Business Times''. January 21, 2020. Accessed on 26 February 2020.</ref> In a 2017 interview with ''The Business Times'', Dennis shared that Naiise stocks brands that have original, quality products that must also be useful in daily life.<ref>Tay Suan Chiang. "[https://www.businesstimes.com.sg/lifestyle/weekend-interview/dennis-tay Weekend Interview: Dennis Tay]". ''The Business Times''. January 14, 2017. Accessed on 26 February 2020. </ref> Naiise's diverse products are sold at a wide range of price points and broadly targeted at the general public.<ref>Chan, Kimberly. "[https://www.businesstimes.com.sg/companies-markets/emerging-enterprise-2017/naiise-story-about-designs Naiise story about designs]". ''Business Times''. September 7, 2017. Accessed on 26 February 2020. </ref>


== Expansion ==
==Expansion==
[[File:Naiise Iconic The Pantry.png|thumb|''The Pantry at Naiise Iconic in Jewel Changi Airport. Photo credit to Huy Pham/ TheSmartLocal.'']]
[[File:Naiise Iconic The Pantry.png|thumb|''The Pantry at Naiise Iconic in Jewel Changi Airport. Photo credit to Huy Pham/ TheSmartLocal.'']]
Naiise started experimenting with omnichannel retailing in March 2015.<ref>Naiise. "[https://www.youtube.com/watch?v=ewwyHGINt8s Naiise @ The Cathay Launch Party 3 June 2016]". ''YouTube''. June 6, 2016. Accessed on 26 February 2020. </ref><ref>Tay Suan Chiang. "[https://www.businesstimes.com.sg/lifestyle/weekend-interview/dennis-tay Weekend Interview: Dennis Tay]". ''The Business Times''. January 14, 2017. Accessed on 26 February 2020. </ref> It took 5 physical Naiise stores before founder Dennis Tay bit the bullet to open a flagship store at The Cathay in 2016.<ref>Naiise. "[https://www.youtube.com/watch?v=ewwyHGINt8s Naiise @ The Cathay Launch Party 3 June 2016]". ''YouTube''. June 6, 2016. Accessed on 26 February 2020. </ref> By 2016, Naiise was stocking products from 1,300 brands.<ref>Tay Suan Chiang. "[https://www.businesstimes.com.sg/lifestyle/weekend-interview/dennis-tay Weekend Interview: Dennis Tay]". ''The Business Times''. January 14, 2017. Accessed on 26 February 2020. </ref> As of February 2020, Naiise has 3 major stores islandwide located in Jewel Changi Airport, Suntec City and Paya Lebar Quarter.<ref>"[https://naiise.com/pages/stores Stores]". ''Naiise''. Accessed on 26 February 2020.</ref>
Naiise started experimenting with omnichannel retailing in March 2015.<ref>Naiise. "[https://www.youtube.com/watch?v=ewwyHGINt8s Naiise @ The Cathay Launch Party 3 June 2016]". ''YouTube''. June 6, 2016. Accessed on 26 February 2020. </ref><ref>Tay Suan Chiang. "[https://www.businesstimes.com.sg/lifestyle/weekend-interview/dennis-tay Weekend Interview: Dennis Tay]". ''The Business Times''. January 14, 2017. Accessed on 26 February 2020. </ref> It took 5 physical Naiise stores before founder Dennis Tay bit the bullet to open a flagship store at The Cathay in 2016.<ref>Naiise. "[https://www.youtube.com/watch?v=ewwyHGINt8s Naiise @ The Cathay Launch Party 3 June 2016]". ''YouTube''. June 6, 2016. Accessed on 26 February 2020. </ref> By 2016, Naiise was stocking products from 1,300 brands.<ref>Tay Suan Chiang. "[https://www.businesstimes.com.sg/lifestyle/weekend-interview/dennis-tay Weekend Interview: Dennis Tay]". ''The Business Times''. January 14, 2017. Accessed on 26 February 2020. </ref> As of February 2020, Naiise has 3 major stores islandwide located in Jewel Changi Airport, Suntec City and Paya Lebar Quarter.<ref>"[https://naiise.com/pages/stores Stores]". ''Naiise''. Accessed on 26 February 2020.</ref>


=== Flagship store (2016) ===
===Flagship store (2016)===
After testing the waters through pop-up stores and customer feedback, Naiise moved into its flagship store in 2016.<ref>"[http://thecathay.com.sg/trending/beyond-brand-interview-naiise BEYOND THE BRAND: INTERVIEW WITH NAIISE]". ''The Cathay''. October 25, 2016. Accessed on 26 February 2020.</ref> The 8,500 square feet retail space consisted of a workshop area, a gift-wrap corner and an "events showcase" corner.<ref>"[http://thecathay.com.sg/trending/beyond-brand-interview-naiise BEYOND THE BRAND: INTERVIEW WITH NAIISE]". ''The Cathay''. October 25, 2016. Accessed on 26 February 2020.</ref><ref>Eliza Yusof. "[https://www.homeanddecor.com.sg/shopping/9-cool-things-we-spotted-at-naiises-biggest-store-yet-at-the-cathay/ 9 cool things we spotted at Naiise’s biggest store yet, at The Cathay]". ''Home and Decor''. June 6, 2016. Accessed on 26 February 2020.</ref> The flagship store has since closed down.
After testing the waters through pop-up stores and customer feedback, Naiise moved into its flagship store in 2016.<ref>"[http://thecathay.com.sg/trending/beyond-brand-interview-naiise BEYOND THE BRAND: INTERVIEW WITH NAIISE]". ''The Cathay''. October 25, 2016. Accessed on 26 February 2020.</ref> The 8,500 square feet retail space consisted of a workshop area, a gift-wrap corner and an "events showcase" corner.<ref>"[http://thecathay.com.sg/trending/beyond-brand-interview-naiise BEYOND THE BRAND: INTERVIEW WITH NAIISE]". ''The Cathay''. October 25, 2016. Accessed on 26 February 2020.</ref><ref>Eliza Yusof. "[https://www.homeanddecor.com.sg/shopping/9-cool-things-we-spotted-at-naiises-biggest-store-yet-at-the-cathay/ 9 cool things we spotted at Naiise’s biggest store yet, at The Cathay]". ''Home and Decor''. June 6, 2016. Accessed on 26 February 2020.</ref> The flagship store has since closed down.


=== Naiise Iconic (2019) ===
===Naiise Iconic (2019)===
Naiise opened its 9,500 square feet Iconic store at Jewel Changi Airport in 2019.<ref>Tan, Alanna. "[https://vulcanpost.com/664078/naiise-iconic-jewel-changi-singapore/ Inside Naiise's 'Iconic' Store At Jewel: Sample Teas, Design Your Own Stationery And Gifts]". ''Vulcan Post''. May 16, 2019. Accessed on 26 February 2020.</ref> Apart from a Gift Bar where customers can personalise their gifts,<ref>"[https://naiise.myshopify.com/pages/naiise-iconic-jewel-changi-airport Our Story]". ''Naiise Iconic''. Accessed on 26 February 2020.</ref> Naiise Iconic also houses a café called The Pantry featuring local F&B businesses like Joe & Dough.<ref>Farzanah Farveen. "[https://www.marketing-interactive.com/naiise-sg-reportedly-faces-retail-woes-and-payment-issues/ Naiise SG faces retail woes and payment issues]". ''Marketing Interactive''. January 21, 2020. Accessed on 26 February 2020.</ref> The two-storey store also hosts an array of workshops by local designers ranging from resin jewellery making<ref>"[https://naiise.com/products/resin-jewellery-workshop-21st-mar-2020-11-30am-jewel?variant=32304654549036 Resin Jewellery Workshop | 21st Mar 2020 | 11.30am | Jewel]". ''Naiise''. Accessed on 26 February 2020.</ref> to soap making.<ref>"[https://naiise.com/products/gemstone-soap-making-workshop?variant=32233951199276 Gemstone Soap Making Workshop | 7th Mar 2020 | 12pm | Jewel]". ''Naiise''. Accessed on 26 February 2020.</ref><ref>Tan, Alanna. "[https://vulcanpost.com/664078/naiise-iconic-jewel-changi-singapore/ Inside Naiise's 'Iconic' Store At Jewel: Sample Teas, Design Your Own Stationery And Gifts]". ''Vulcan Post''. May 16, 2019. Accessed on 26 February 2020.</ref>
Naiise opened its 9,500 square feet Iconic store at Jewel Changi Airport in 2019.<ref>Tan, Alanna. "[https://vulcanpost.com/664078/naiise-iconic-jewel-changi-singapore/ Inside Naiise's 'Iconic' Store At Jewel: Sample Teas, Design Your Own Stationery And Gifts]". ''Vulcan Post''. May 16, 2019. Accessed on 26 February 2020.</ref> Apart from a Gift Bar where customers can personalise their gifts,<ref>"[https://naiise.myshopify.com/pages/naiise-iconic-jewel-changi-airport Our Story]". ''Naiise Iconic''. Accessed on 26 February 2020.</ref> Naiise Iconic also houses a café called The Pantry featuring local F&B businesses like Joe & Dough.<ref>Farzanah Farveen. "[https://www.marketing-interactive.com/naiise-sg-reportedly-faces-retail-woes-and-payment-issues/ Naiise SG faces retail woes and payment issues]". ''Marketing Interactive''. January 21, 2020. Accessed on 26 February 2020.</ref> The two-storey store also hosts an array of workshops by local designers ranging from resin jewellery making<ref>"[https://naiise.com/products/resin-jewellery-workshop-21st-mar-2020-11-30am-jewel?variant=32304654549036 Resin Jewellery Workshop | 21st Mar 2020 | 11.30am | Jewel]". ''Naiise''. Accessed on 26 February 2020.</ref> to soap making.<ref>"[https://naiise.com/products/gemstone-soap-making-workshop?variant=32233951199276 Gemstone Soap Making Workshop | 7th Mar 2020 | 12pm | Jewel]". ''Naiise''. Accessed on 26 February 2020.</ref><ref>Tan, Alanna. "[https://vulcanpost.com/664078/naiise-iconic-jewel-changi-singapore/ Inside Naiise's 'Iconic' Store At Jewel: Sample Teas, Design Your Own Stationery And Gifts]". ''Vulcan Post''. May 16, 2019. Accessed on 26 February 2020.</ref>


== Community initiatives ==
==Community initiatives==
[[File:Design Orchard Naiise.png|thumb|''The retail space at Design Orchard - operated by Naiise. Photo credit to Pichan Cruz/ TheSmartLocal.'']]
[[File:Design Orchard Naiise.png|thumb|''The retail space at Design Orchard - operated by Naiise. Photo credit to Pichan Cruz/ TheSmartLocal.'']]


=== Design Orchard mentorship programme ===
===Design Orchard mentorship programme===
In 2019, Naiise partnered with Enterprise Singapore, JTC Singapore and the Singapore Tourism Board (STB) to conduct a mentorship programme for fledging homegrown brands and designers.<ref>Boonlong Pailin. "[https://thesmartlocal.com/read/design-orchard/ Design Orchard Has Over 60 Local Brands & A Rooftop Garden For You To Dodge The Crowds]". ''The Smart Local''. February 15, 2019. Accessed on 26 February 2020.</ref> This programme was founded in conjunction with the new Design Orchard mall that was unveiled in January 2019.<ref>Tan, Alanna. "[https://vulcanpost.com/654480/design-orchard-singapore-mentorship-naiise/ S'pore Retailer Naiise To Mentor 58 Emerging Local Brands, With Opening Of New Mall At Orchard Road]". ''Vulcan Post''. January 11, 2019. Accessed on 26 February 2020.</ref> Other mentors in the programme include Motherswork and Spa Esprit Group.<ref>Tan, Alanna. "[https://vulcanpost.com/654480/design-orchard-singapore-mentorship-naiise/ S'pore Retailer Naiise To Mentor 58 Emerging Local Brands, With Opening Of New Mall At Orchard Road]". ''Vulcan Post''. January 11, 2019. Accessed on 26 February 2020.</ref>
In 2019, Naiise partnered with Enterprise Singapore, JTC Singapore and the Singapore Tourism Board (STB) to conduct a mentorship programme for fledging homegrown brands and designers.<ref>Boonlong Pailin. "[https://thesmartlocal.com/read/design-orchard/ Design Orchard Has Over 60 Local Brands & A Rooftop Garden For You To Dodge The Crowds]". ''The Smart Local''. February 15, 2019. Accessed on 26 February 2020.</ref> This programme was founded in conjunction with the new Design Orchard mall that was unveiled in January 2019.<ref>Tan, Alanna. "[https://vulcanpost.com/654480/design-orchard-singapore-mentorship-naiise/ S'pore Retailer Naiise To Mentor 58 Emerging Local Brands, With Opening Of New Mall At Orchard Road]". ''Vulcan Post''. January 11, 2019. Accessed on 26 February 2020.</ref> Other mentors in the programme include Motherswork and Spa Esprit Group.<ref>Tan, Alanna. "[https://vulcanpost.com/654480/design-orchard-singapore-mentorship-naiise/ S'pore Retailer Naiise To Mentor 58 Emerging Local Brands, With Opening Of New Mall At Orchard Road]". ''Vulcan Post''. January 11, 2019. Accessed on 26 February 2020.</ref>


=== Corporate Social Responsibility (CSR) ===
===Corporate Social Responsibility (CSR)===
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== Defaulted payments (2019) ==
==Defaulted payments (2019)==
In 2019, there were reports of vendors pulling out from their business agreement with Naiise due to delayed payments from the retailer.<ref>Tay, Tiffany Fumiko. "[https://www.straitstimes.com/singapore/some-local-brands-pull-out-of-naiise-due-to-payment-delays-of-up-to-a-year Some local brands pull out of Naiise due to payment delays of up to a year]". ''The Straits Times''. January 20, 2020. Accessed on 26 February 2020.</ref> According to some vendors, Naiise had been defaulting on payments since 2016.<ref>Lam, Fiona and Mui, Rachel. "[https://www.businesstimes.com.sg/consumer/design-retailer-naiise-apologises-for-payment-delays-after-brands-exit Design retailer Naiise apologises for payment delays after brands exit]". ''The Business Times''. January 21, 2020. Accessed on 26 February 2020.</ref> It has been reported that Naiise owes several vendors amounts ranging from a few hundred to a few thousand dollars.<ref>Lam, Fiona and Mui, Rachel. "[https://www.businesstimes.com.sg/consumer/design-retailer-naiise-apologises-for-payment-delays-after-brands-exit Design retailer Naiise apologises for payment delays after brands exit]". ''The Business Times''. January 21, 2020. Accessed on 26 February 2020.</ref>
In 2019, there were reports of vendors pulling out from their business agreement with Naiise due to delayed payments from the retailer.<ref>Tay, Tiffany Fumiko. "[https://www.straitstimes.com/singapore/some-local-brands-pull-out-of-naiise-due-to-payment-delays-of-up-to-a-year Some local brands pull out of Naiise due to payment delays of up to a year]". ''The Straits Times''. January 20, 2020. Accessed on 26 February 2020.</ref> According to some vendors, Naiise had been defaulting on payments since 2016.<ref>Lam, Fiona and Mui, Rachel. "[https://www.businesstimes.com.sg/consumer/design-retailer-naiise-apologises-for-payment-delays-after-brands-exit Design retailer Naiise apologises for payment delays after brands exit]". ''The Business Times''. January 21, 2020. Accessed on 26 February 2020.</ref> It has been reported that Naiise owes several vendors amounts ranging from a few hundred to a few thousand dollars.<ref>Lam, Fiona and Mui, Rachel. "[https://www.businesstimes.com.sg/consumer/design-retailer-naiise-apologises-for-payment-delays-after-brands-exit Design retailer Naiise apologises for payment delays after brands exit]". ''The Business Times''. January 21, 2020. Accessed on 26 February 2020.</ref>


=== Naiise's statement ===
===Naiise's statement===
In response to this issue, Naiise has issued a formal apology to the affected brands. The retailer cites administrative issues as the cause of its defaulted payments.<ref>Farzanah Farveen. "[https://www.marketing-interactive.com/naiise-sg-reportedly-faces-retail-woes-and-payment-issues/ Naiise SG faces retail woes and payment issues]". ''Marketing Interactive''. January 21, 2020. Accessed on 26 February 2020.</ref>
In response to this issue, Naiise has issued a formal apology to the affected brands. The retailer cites administrative issues as the cause of its defaulted payments.<ref>Farzanah Farveen. "[https://www.marketing-interactive.com/naiise-sg-reportedly-faces-retail-woes-and-payment-issues/ Naiise SG faces retail woes and payment issues]". ''Marketing Interactive''. January 21, 2020. Accessed on 26 February 2020.</ref>


== References / Citations ==
==References / Citations==
<references />
[[Category:Singapore Brands]]

Latest revision as of 09:05, 27 February 2020

Naiise is a homegrown retailer that curates and promotes Singaporean makers.

Founded in 2013, Naiise is a homegrown lifestyle and design retailer known for its curated collection of locally-made products. The company started as an online retailer but has since opened brick-and-mortar stores in Singapore and Malaysia. The business has also expanded into the United Kingdom market, having opened a month-long pop-up store in Shoreditch, London in 2017.[1][2] As of 2020, Naiise stocks 800 brands across its physical stores and website of which 600 are based in Singapore.[3]

Background

Dennis Tay is the founder and CEO of multi-label retailer Naiise. Photo from Generation T.

The brand name "Naiise" (pronounced as "nice") encompasses the direction and value that the company hopes to uphold.[4] The name is also meant to draw in local consumers.[5] Naiise was founded by Dennis Tay who in 2018, was featured on the Gen.T List for his contributions to the local creative and retail industries.[6][7]

Founding

Before founding Naiise, Dennis Tay started a creative agency where he was exposed to the financial reality of creatives in Singapore.[8] Due to low local demand, these individuals were struggling to create or sell their work.[9] Dennis then kickstarted Naiise with a starting capital of S$3,000[10], hoping that the company will create more entrepreneurship opportunities for creatives. Within the first year of its inception, Naiise made S$30,000.[11]

Business model

Naiise operates as a multi-label retailer and makes profit on a consignment basis.[12] In a 2017 interview with The Business Times, Dennis shared that Naiise stocks brands that have original, quality products that must also be useful in daily life.[13] Naiise's diverse products are sold at a wide range of price points and broadly targeted at the general public.[14]

Expansion

The Pantry at Naiise Iconic in Jewel Changi Airport. Photo credit to Huy Pham/ TheSmartLocal.

Naiise started experimenting with omnichannel retailing in March 2015.[15][16] It took 5 physical Naiise stores before founder Dennis Tay bit the bullet to open a flagship store at The Cathay in 2016.[17] By 2016, Naiise was stocking products from 1,300 brands.[18] As of February 2020, Naiise has 3 major stores islandwide located in Jewel Changi Airport, Suntec City and Paya Lebar Quarter.[19]

Flagship store (2016)

After testing the waters through pop-up stores and customer feedback, Naiise moved into its flagship store in 2016.[20] The 8,500 square feet retail space consisted of a workshop area, a gift-wrap corner and an "events showcase" corner.[21][22] The flagship store has since closed down.

Naiise Iconic (2019)

Naiise opened its 9,500 square feet Iconic store at Jewel Changi Airport in 2019.[23] Apart from a Gift Bar where customers can personalise their gifts,[24] Naiise Iconic also houses a café called The Pantry featuring local F&B businesses like Joe & Dough.[25] The two-storey store also hosts an array of workshops by local designers ranging from resin jewellery making[26] to soap making.[27][28]

Community initiatives

The retail space at Design Orchard - operated by Naiise. Photo credit to Pichan Cruz/ TheSmartLocal.

Design Orchard mentorship programme

In 2019, Naiise partnered with Enterprise Singapore, JTC Singapore and the Singapore Tourism Board (STB) to conduct a mentorship programme for fledging homegrown brands and designers.[29] This programme was founded in conjunction with the new Design Orchard mall that was unveiled in January 2019.[30] Other mentors in the programme include Motherswork and Spa Esprit Group.[31]

Corporate Social Responsibility (CSR)

Year Campaign/ Iniative Organisation Partnered Beneficiaries Refs.
2016 Grant A Wish Club Rainbow 100 Club Rainbow beneficiaries [32]
2015 Christmas card Fundraiser Touch Community Services -
2014 1 Gift, 2 Gives Volkswagen Singapore The Red Pencil Singapore

Defaulted payments (2019)

In 2019, there were reports of vendors pulling out from their business agreement with Naiise due to delayed payments from the retailer.[33] According to some vendors, Naiise had been defaulting on payments since 2016.[34] It has been reported that Naiise owes several vendors amounts ranging from a few hundred to a few thousand dollars.[35]

Naiise's statement

In response to this issue, Naiise has issued a formal apology to the affected brands. The retailer cites administrative issues as the cause of its defaulted payments.[36]

References / Citations

  1. ↑ Tay Suan Chiang. "Weekend Interview: Dennis Tay". The Business Times. January 14, 2017. Accessed on 26 February 2020.
  2. ↑ Law, Katie. "Naiise in London: meet the power couple behind the cult Singaporean lifestyle store". Evening Standard. October 27, 2017. Accessed on 27 February 2020.
  3. ↑ Lam, Fiona and Mui, Rachel. "Design retailer Naiise apologises for payment delays after brands exit". The Business Times. January 21, 2020. Accessed on 26 February 2020.
  4. ↑ "BEYOND THE BRAND: INTERVIEW WITH NAIISE". The Cathay. October 25, 2016. Accessed on 26 February 2020.
  5. ↑ Chan, Kimberly. "Naiise story about designs". Business Times. September 7, 2017. Accessed on 26 February 2020.
  6. ↑ Chong Seow Wei. "Chasing The Entrepreneur Dream With Naiise's Dennis Tay". Singapore Tatler. August 8, 2018. Accessed on 26 February 2020.
  7. ↑ "Dennis Tay". Gen T. Accessed on 26 February 2020.
  8. ↑ "BEYOND THE BRAND: INTERVIEW WITH NAIISE". The Cathay. October 25, 2016. Accessed on 26 February 2020.
  9. ↑ "BEYOND THE BRAND: INTERVIEW WITH NAIISE". The Cathay. October 25, 2016. Accessed on 26 February 2020.
  10. ↑ Chia, Rachel Genevieve. "The founder of Singapore brand Naiise made his girlfriend his first employee – and doing business together led them to marriage". Business Insider Singapore. April 1, 2019. Accessed on 26 February 2020.
  11. ↑ Tay Suan Chiang. "Weekend Interview: Dennis Tay". The Business Times. January 14, 2017. Accessed on 26 February 2020.
  12. ↑ Lam, Fiona and Mui, Rachel. "Design retailer Naiise apologises for payment delays after brands exit". The Business Times. January 21, 2020. Accessed on 26 February 2020.
  13. ↑ Tay Suan Chiang. "Weekend Interview: Dennis Tay". The Business Times. January 14, 2017. Accessed on 26 February 2020.
  14. ↑ Chan, Kimberly. "Naiise story about designs". Business Times. September 7, 2017. Accessed on 26 February 2020.
  15. ↑ Naiise. "Naiise @ The Cathay Launch Party 3 June 2016". YouTube. June 6, 2016. Accessed on 26 February 2020.
  16. ↑ Tay Suan Chiang. "Weekend Interview: Dennis Tay". The Business Times. January 14, 2017. Accessed on 26 February 2020.
  17. ↑ Naiise. "Naiise @ The Cathay Launch Party 3 June 2016". YouTube. June 6, 2016. Accessed on 26 February 2020.
  18. ↑ Tay Suan Chiang. "Weekend Interview: Dennis Tay". The Business Times. January 14, 2017. Accessed on 26 February 2020.
  19. ↑ "Stores". Naiise. Accessed on 26 February 2020.
  20. ↑ "BEYOND THE BRAND: INTERVIEW WITH NAIISE". The Cathay. October 25, 2016. Accessed on 26 February 2020.
  21. ↑ "BEYOND THE BRAND: INTERVIEW WITH NAIISE". The Cathay. October 25, 2016. Accessed on 26 February 2020.
  22. ↑ Eliza Yusof. "9 cool things we spotted at Naiise’s biggest store yet, at The Cathay". Home and Decor. June 6, 2016. Accessed on 26 February 2020.
  23. ↑ Tan, Alanna. "Inside Naiise's 'Iconic' Store At Jewel: Sample Teas, Design Your Own Stationery And Gifts". Vulcan Post. May 16, 2019. Accessed on 26 February 2020.
  24. ↑ "Our Story". Naiise Iconic. Accessed on 26 February 2020.
  25. ↑ Farzanah Farveen. "Naiise SG faces retail woes and payment issues". Marketing Interactive. January 21, 2020. Accessed on 26 February 2020.
  26. ↑ "Resin Jewellery Workshop | 21st Mar 2020 | 11.30am | Jewel". Naiise. Accessed on 26 February 2020.
  27. ↑ "Gemstone Soap Making Workshop | 7th Mar 2020 | 12pm | Jewel". Naiise. Accessed on 26 February 2020.
  28. ↑ Tan, Alanna. "Inside Naiise's 'Iconic' Store At Jewel: Sample Teas, Design Your Own Stationery And Gifts". Vulcan Post. May 16, 2019. Accessed on 26 February 2020.
  29. ↑ Boonlong Pailin. "Design Orchard Has Over 60 Local Brands & A Rooftop Garden For You To Dodge The Crowds". The Smart Local. February 15, 2019. Accessed on 26 February 2020.
  30. ↑ Tan, Alanna. "S'pore Retailer Naiise To Mentor 58 Emerging Local Brands, With Opening Of New Mall At Orchard Road". Vulcan Post. January 11, 2019. Accessed on 26 February 2020.
  31. ↑ Tan, Alanna. "S'pore Retailer Naiise To Mentor 58 Emerging Local Brands, With Opening Of New Mall At Orchard Road". Vulcan Post. January 11, 2019. Accessed on 26 February 2020.
  32. ↑ Navin Sregantan. “A Naiise way to bring joy to children”. Business Times. August 21, 2017. Accessed on 3 May 2019.
  33. ↑ Tay, Tiffany Fumiko. "Some local brands pull out of Naiise due to payment delays of up to a year". The Straits Times. January 20, 2020. Accessed on 26 February 2020.
  34. ↑ Lam, Fiona and Mui, Rachel. "Design retailer Naiise apologises for payment delays after brands exit". The Business Times. January 21, 2020. Accessed on 26 February 2020.
  35. ↑ Lam, Fiona and Mui, Rachel. "Design retailer Naiise apologises for payment delays after brands exit". The Business Times. January 21, 2020. Accessed on 26 February 2020.
  36. ↑ Farzanah Farveen. "Naiise SG faces retail woes and payment issues". Marketing Interactive. January 21, 2020. Accessed on 26 February 2020.
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