Retail in Asia


Love, Bonito acquires Singaporean activewear label, Butter

Love, Bonito, Southeast Asia’s womenswear brand, has acquired Butter, a Singaporean activewear label. Thus,encouraging Love, Bonito’s evolution to becoming a well-rounded female ecosystem, only within a year after its Series C funding.

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Love, Bonito’s next category expansion will be activewear, which has been carefully curated for the everyday Asian woman. Its long-term vision is to support essential aspects of women’s needs within Asia through its next category expansion. As part of its established international business strategy, Love, Bonito intends to expand its customer base, to cover all ages and demographics by leveraging Butter‘s ageless activewear aesthetic and popularity.

“This is an extraordinary milestone for us to achieve within one year of our Series C funding. Our long-term vision is to be a true life partner for our community of women, in and beyond fashion, and activewear is a key category we’ve looked to venture into since two years ago” explains Dione Song, CEO of Love, Bonito. “Merging forces with Butter. came at the right place and time for both of us, and we look forward to reshaping our evolution into a female ecosystem alongside emerging passion-driven women-led brands.”

Since its Series C funding in October 2021, Love, Bonito had set its sights on activewear, one of the fastest growing segments of apparel in Asia Pacific, with a projected compound annual growth rate (CAGR) of over 8.5 percent for 2021-2025. The activewear trend was further enhanced as a result of the post-pandemic shift in dress code norms, when activewear became more than just a workout accessory, and instead an everyday attire.

Source: cheak

Founded by two Singaporean avid sports women, Olivia Yiong and Tiffany Chng, Butter was created in 2020 to address the lack of affordable high-quality activewear with Asian fit. With their strong sense of strategic thinking and acute design sensibility, Butter grew by USD 500 thousand in revenue within its first year of operations, with only five products, and is on track to grow 138 percent year-over-year. Furthermore, it has already established credibility among local fitness instructors, with over 100 instructors onboard.

The brand’s decision to join Love, Bonito was based on its Asian sensibility and commitment to fostering a strong female community. In collaboration, they share a similar Asian-centric design philosophy and a brand mission to empower Asian women with confidence.

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“As Love, Bonito evolves into the next stages of growth, we want to join forces with like-hearted female founders and brands to make a difference and impact the lives of Asian women globally. Our vision has always been to journey with a woman through the different aspects and stages of life – and this acquisition allows us to do so meaningfully. We are also excited to empower Tiffany and Olivia in their individual journeys as founders and entrepreneurs to grow, develop and come into their own!” explains Love, Bonito co-founder Rachel Lim.