Singapore’s home-grown gift and homewares retailer Naiise has been brought back by WestStar Group after being put in liquidation last April, unable to pay debts.
WestStar Group said it has acquired Naiise’s online marketplace together with its accompanying trademarks and social media accounts. The value of the deal has not yet been disclosed.
Under the new ownership, Naiise’s new online presence allows sellers to be paid instantly upon every successful order fulfilment. An incubator model for upcoming and incoming designers and “buy now, pay later” concepts are also in the works.
“In line with its mission of inspiring creativity and connecting communities, Naiise aspires to be at the forefront of aggregating a community that has always appreciated local designs,” said Ong Lay Ann, CEO of WestStar Group.
“The creative ecosystem is fragmented and the reintroduction of Naiise marketplace will allow both consumers and merchants to connect through a dedicated platform.”
Naiise is now live onlinefeaturing homegrown and local brands across a varied category listing, such as home, fashion, beauty and lifestyle. The company said it will also feature more hyper-local, eco-friendly and independent international brands in the coming months.
More than 500 merchants will be featured gradually on the platform, as well as new brands.