Why Startups Fail Case Study
Case Study 11: Naiise
Getting Business Right: Real Stories
Ever wondered why some businesses soar and others flop? Our business case studies break it down simply. Whether you're just getting started or have been in the game for a while, these real stories give you the dos and don'ts to make your next move. Learn from others and pave your way to success.
Case Study Description
Materials: PDF Files
Naiise, once a standout in Singapore’s retail landscape, was founded in 2013 by Dennis Tay with an initial investment of SGD 3,000. The company was designed to champion local designers and artisans by offering a platform to display and sell their works.
Many successful companies start small, and Naiise was no exception. But financial troubles forced it to close in April 2021. Just months later, Naiise was brought back online by WestStar Group, led by former Honestbee CEO Ong Lay Ann.
This dramatic revival serves as a reminder that strategic growth and meticulous financial management aren't just buzzwords—they're essential for survival.
So, was Naiise really not so 'nice'? Let's uncover what went wrong.
