If you’re a woman, you’d know Love, Bonito.
Heck, even if you’re a guy, you’d know Love, Bonito since your female friends would have talked about it.
The Singapore-based fashion giant, known for its chic and modern designs, is the latest company to announce layoffs.
The company recently revealed it had to make the difficult decision to reduce its workforce, cutting 6.9% of its global staff.
This translates to 29 employees, with 14 positions in Singapore directly affected.
According to Love, Bonito’s CEO, Dione Song, the company is offering a support package to those affected. This includes financial payouts based on service length, compensation for unused annual leave, and notice period compensation.
In addition, the brand is extending medical insurance coverage and providing career transition assistance, such as recommendation letters and job placement support, to ease the transition for its departing employees.
The Rise of Love, Bonito: From Blogshop to Fashion Powerhouse
Love, Bonito was founded in 2005 under the name BonitoChico, starting as a small blogshop before transforming into Asia’s largest direct-to-consumer womenswear brand.
Its mission is to cater to the “Modern Asian Woman,” offering trendy, affordable fashion aimed at women between the ages of 18 and 35.
The brand has built a strong reputation by combining tech-enabled operations with its direct-to-consumer model. Over the years, this strategy has helped the company grow its online presence and connect with consumers in a meaningful way.
Love, Bonito has expanded its footprint across Asia, with physical stores in countries such as Malaysia, Indonesia, Cambodia, Hong Kong, and the Philippines.
Currently, the brand operates 26 stores, complemented by a thriving e-commerce platform.
In 2021, Love, Bonito raised US$50 million in Series C funding, allowing it to explore new markets, including its ambitious expansion into the United States.
Watch this for a complete summary of what REALLY happened to Qoo10, and why it's like a K-drama:
Read Also:
- Woman Tried Bribing Officer in S’pore Immigration, Thinking It’s a M’sia Officer
- There Might Not Be Crazy Rich Asians 2 in the Near Future
- Everything About Donald Trump’s Controversial Cabinet’s Picks That Are Known So Far
- Pet-Friendly Cafe Just 10 Minutes Away From JB CIQ Has Furry Floral Decor, Pastries & Mains
- 4 Handrolls For S$4 At Japanese Handroll Bar In Duxton Road On 17 November 2024
- Everything About The Deepfake Nude Photo Scandal in S’pore Sports School
Advertisements
