Financial Planning
SG60: The Journey of Singaporean Women’s Clothing Brand ‘Love, Bonito’
Every entrepreneurial journey begins with a purpose, and this one started with the drive to make Asian women live life confidently. One of the ways in which women express themselves is through their clothing choices. When clothes fit them well, it can significantly boost their confidence. This became a powerful motivator for these Singaporean entrepreneurs: Rachel Lim, and sisters, Velda and Viola Tan, while they were operating an online blog shop that would eventually evolve into the clothing brand we all know today: Love, Bonito.From a blog shop to a fashion empireAlthough the e-commerce landscape in Singapore was just beginning in 2005, the trio started their own Livejournal blog called BonitoChico as a side hustle, selling preloved and imported apparel. Little did they know that their pet project would grow into something much bigger. At the time, everything had to be done manually, from packing orders and verifying bank payments. They even made trips to Bangkok wholesale markets to source for products to sell on the blog. However, they soon realised that many of these clothes did not resonate with Asian women in terms of size and style. Driven by this problem, they decided to design their own fashion line tailored to fit Asian taste buds and climate. In 2010, they moved to an official domain, naming it “Love, Bonito” as a tribute to their roots. But Rachel revealed that the journey was far from smooth, as she had to drop out of university and borrowed a five-figure sum from her mother to fund the rebranding. It proved to be a worthwhile risk as the brand began gaining traction not only in Singapore but also in neighbouring countries.First brick-and-mortar shop at Orchard RoadFor the next six years, Love, Bonito continued to serve its customers online. The brand would also set up pop-up stores which allowed them to better understand its audience and test new markets. In 2017, the brand opened its first flagship store at 313@Somerset at Orchard Road. Despite the decline of brick-and-mortar retail outlets due to the rise of online shopping, Rachel believed having a physical outlet was essential for bringing the brand’s values to life. “It’s important to have that physical space where we get to connect and get in touch with customers. People crave authenticity and a genuine relationship,” Rachel said in an interview with Prestige.In 2018, American investment magazine, Venture Capital Journal reported that Love, Bonito secured US$13 million in Series B funding, led by Japanese company Kakaku.com and existing investor NSI Ventures. With this funding, the brand set its sights on becoming Asia Pacific’s leading women’s lifestyle brand.By 2022, Love, Bonito had expanded across Southeast Asia, including Malaysia, Indonesia, Cambodia, and Hong Kong. Today, it has 24 retail stores in total. The company has also e-commerce platforms that serve the Philippines, Australia, China, the UAE, and the United States.Staying up-to-date using data-driven strategiesTo stay ahead in the fast-paced fashion landscape, the homegrown brand had to find ways to track its evolving customer preferences. Under the leadership of its current CEO, Dione Song, Love, Bonito began to embrace innovation using data-driven strategies and customer-centric ideas. In an interview with Options, Dione shared how her prior experiences working at digital e-commerce platforms Zalora and Sephora Digital allowed her to gain technical expertise in such rapidly growing industries. With her expertise in e-commerce's data innovation, the brand now manages to keep track of over 100 product attributes and gather feedback from their customers. The company even has its own in-house data team to build a stronger data culture within. From a humble blogshop to becoming one of Southeast Asia’s most recognisable fashion brands, Love, Bonito proves that resilience, innovation, and a community-centric approach can drive a business forward. Furthermore, having an impactful motivation can set you apart, as the brand continues to make clothes not just ready-to-wear, but ready-to-live.
