Singaporean fashion brand, Love, Bonito, has laid off approximately 6.9% of its total workforce, impacting 29 corporate roles worldwide. Of these, 14 positions in Singapore were affected, the company confirmed on Thursday (Oct 17) in response to a query from CNA.
CEO Dione Song assured that affected employees will receive a comprehensive support package aligned with local regulations. “This includes a severance payout based on their length of service, encashment of pro-rated annual leave, and the notice period,” she stated.
Additionally, the company will extend the medical insurance coverage for impacted employees and collaborate with relevant agencies to offer career transition support, including providing recommendation letters.
Love, Bonito emphasized that its "immediate focus" is on supporting affected employees, as well as the remaining employees to get through this transition period.
From a 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.
The homegrown brand, which began as a blogshop, operates 26 stores across Asia, including locations in Singapore, Malaysia, Indonesia, Cambodia, Hong Kong, and the Philippines. In 2021, the brand secured US$50 million in funding, with plans to expand into new markets like the United States.
In June 2023, the company launched its first pop-up store in New York City, which had remained until the end of the year.
Currently, the brand operates 26 stores, complemented by a thriving e-commerce platform.
Love, Bonito’s layoffs follow a series of recent retrenchments in various sectors. ONE Championship, a mixed martial arts promotion, recently laid off “a few dozen” employees, while tech firm Dyson and electronics giant Samsung have also carried out similar actions.
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