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.
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Founder Dennis Tay cited the inability to recover from the pandemic as a reason for the closure,
First opened in May 2019, the 9,500 square feet two-storey Naiise Iconic store at Jewel Changi showcased products by Singapore designers. Image by Naiise on Facebook.
Owed vendors up to S$10,000
According to
Today, some of Naiise s vendors are owed up to S$10,000 by the retailer.
A private Facebook group, Naiise Vendors, that started in July 2020, consists of 144 current and former Naiise vendors to gathered to discuss their issues.
Wendy Wang, 35, the former owner of Canvas Avenue which sold handmade wooden accessories and printed clothing, first posted about her issues with Naiise on Jun. 25, 2020.