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Wet Tee Shirt mentioned in Vulcan Post “Naiise owes “millions of dollars” to over 400 brands, does it still deserve a second chance?”

Under this new ownership, Naiise will stand strong to its initial commitment of championing local designs, creatives and artisans.

Naiise’s current business model works just like a typical online marketplace, where products purchased is fulfilled by vendor.

Naiise has also promised sellers that they will be “paid instantly upon every successful order fulfilment”.

Previously, products are sold on a consignment basis where suppliers are paid only for the merchandise sold, minus a commission fee of between 30 and 45 per cent of the retail price.

The company also has plans to introduce an “incubator model for upcoming designers” and “buy now, pay later concepts”, which are currently in the pipeline.

Vulcan Post has reached out to both WestStar Group and Ong to elaborate further on their business plans to grow Naiise, but did not receive any replies as of yet.

According to Naiise, over 500 merchants will be featured gradually on its platform. It will feature more hyper-local, eco-friendly and independent international brands in the coming months, including debut from new brands.

Some brands listed on its new website include Wet Tee Shirt, Punny Pin Greeting, Ecobar SG, Wick & Litt, Changi Chowk and Petale Tea, amongst others.

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