Stocks missing and payments defaulted; Naiise vendors prepare for loss
SINGAPORE – Creative marketplace Naiise, once having 25,000 square feet of retail space across Singapore, closed its last remaining physical store at Jewel Changi on 11 April. Dubbed themselves as a space “where creatives, makers and customers can connect with each other”, Naiise was “serving more than 200,000 customers each month” online and offline previously.
With the pandemic affecting physical stores’ sales, the retailer will operate solely on their online platform. However, it has since come to light that founder Dennis Tay had owed multiple vendors payments from the sales of their goods, with some since pre-COVID-19.
Stocks missing and payments defaulted; Naiise vendors prepare for loss msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
Monday, 12 Apr 2021 09:20 AM MYT
Bare mannequins and empty racks were seen at the Jewel Changi Airport outlet of retailer Naiise on April 9, 2021 ahead of its closure two days later. TODAY pic
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SINGAPORE, April 12 Homegrown store Naiise, known for selling products such as clothing and shoes by Singapore designers, closed its last physical store at Jewel Changi Airport yesterday. Vendors told
TODAY that they are owed up to S$10,000 (RM30,815) in some cases by the retailer.
In response to queries from
TODAY, its founder Dennis Tay said that Naiise “never recovered” from the Covid-19 crisis and, consequently, has struggled to pay vendors.
The New Paper
Naiise preparing to close its doors at its last outlet at Jewel. TNP PHOTO: YONG LI XUAN
Apr 12, 2021 06:00 am
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Multi-label retailer Naiise may wind up after years of payment delays to its vendors. It said last Friday it is closing its remaining store at Jewel Changi Airport.
Jewel confirmed to The Straits Times on Saturday that the retailer will be closing its outlet at the airport mall. A tenant has been found to take over the space, its spokesman said. The identity of the tenant will be revealed when the store is ready to open.
In a video posted on Facebook on Friday by debt collectors, Naiise founder Dennis Tay could be seen explaining that he is unable to repay its client Bespoke Parfums Artisanaux, which said it is owed about $10,000.
Local retailer Naiise closes last store at Jewel Changi, owes vendors over $30k, may wind up operations asiaone.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from asiaone.com Daily Mail and Mail on Sunday newspapers.