Speeches 15 May 2019 Updated 16 May 2019 Speech by Senior Minister of State Sim Ann for Naiise Iconic Launch Share: SPEECH BY SENIOR MINISTER OF STATE SIM ANN FOR NAIISE ICONIC LAUNCH 15 MAY 2019 Partners of Naiise, Friends from the media, Esteemed guests, Introduction: Naiise Iconic 1.Good evening. I am delighted to be here for the official launch of Naiise Iconic, a new retail concept that celebrates experiences, creativity and community. 2. Conceived with the support of Enterprise Singapore, this store is not only Naiise’s most ambitious, collaborative and innovative retail project thus far, it is also a proud representation for Singapore design and products. 3. The location could not be more apt. Since its official opening last month, Jewel Changi Airport has firmly established itself as Singapore’s newest and brightest window to the world. It is where inbound or transit air travellers can enjoy the very Singaporean pastimes of shopping and eating in a uniquely beautiful environment. It is where outbound visitors can pick up gifts for their friends and family that represent what is special about Singapore. It is of course also a retail and leisure destination enjoyed by many Singaporeans, in and of itself. 4. This is where our local brands – whether established and budding – all want to be. Because it represents more than 140 local labels and creatives, Naiise Iconic’s opening here at Jewel Changi Airport is an important step for the profiling and growth of Singapore designers and brand owners. Innovating to Meet Today’s Consumers’ Needs 5. Promoting Singapore brands is something that Naiise has been doing well. With Naiise Iconic, this will be taken to the next level. To meet the evolving demands, Naiise Iconic has added its first in-store Gift Bar, where customers can customise gift wrapping, to many other experiential retail offerings which offer bespoke products and services for customers. It empowers customers and makes them feel special, ensuring brand loyalty. 6. Taking customer involvement a step further, Naiise Iconic has introduced the Launchpad. This initiative allows customers to be part of the product development process. By collecting feedback from end-users and augmenting it with in-store video and sensor analytics, the Launchpad plans to provide designers with meaningful customer analytics and insights. This will help designers respond to real-time market feedback to their designs and products and help address the need of customers. 7. Customer experience can also be enhanced through the use of technology. I understand Naiise has incorporated the use of various technologies at this store. For example, products in this store will use Radio Frequency Identification (RFID) tags. This not only increases productivity for inventory management, but will enable greater oversight of a unified, real–time inventory and automatic ordering of stock for replenishment. Naiise has also created an in-store app that helps our highly savvy customers transit seamlessly between its offline and online platforms. The app further enables Click & Collect as a value-adding service where customers can make orders and payment online and have the option to collect the purchase in store. In-store video and sensor analytics have also been integrated as part of the retail store to allow Naiise to better understand and cater to customers’ shopping needs, behaviour and emotions. 8. The creative use of technology and innovative in-store concepts at Naiise Iconic is highly commendable. I hope more of our retailers can consider the deployment of technology and new ideas to constantly innovate their business and attract customers. Partnerships that will benefit the industry as a whole 9. In addition, I would like to commend Naiise on their efforts to incorporate community programmes at Naiise Iconic. These programmes aim to support emerging and established local brands looking to venture abroad, and spark conversation and collaboration between and among brands, creatives, and consumers. 10. A key programme being developed is “Take Flight”. This is a springboard programme which will nurture brands to establish an overseas presence. As part of the programme, brands will learn more about market research, product validation and planning. It will also include opportunities to interact with specialists across topics such as trade regulations, marketing, packaging, warehousing and logistics. Naiise is exploring possibilities of graduating designers from this programme with a showcase of their products and designs with Naiise’s regional partners, for example, via pop-ups or exchange programmes. It is only apt that such a programme is conceived in Jewel Changi Airport, our gateway to the rest of the world. 11. There will also be monthly creative sessions for the design community, which serves as a platform for sharing, interaction, collaboration and networking. Such community-based platforms will allow valuable experience and industry knowledge to be shared amongst the community of entrepreneurs and designers and allow for collaboration to take place. 12. I am very excited see the start of these community programmes at Naiise Iconic and look forward to seeing more Singapore brands take off from this platform and grow to leave their footprints in overseas markets. I would also like to encourage more local retailers to consider ways they can help cultivate our aspiring designers and brands in Singapore. This will not only be a form of business diversification strategy, much like how US retailer Target incubates startups for new innovative products, it will also help create an ecosystem of local designers and brands in Singapore to enable a more vibrant design and retail scene here. Conclusion 13. With Naiise’s strong collaboration with local peers and creatives and their consumer-centric approach, I am confident that what they have achieved at Naiise Iconic is the beginning of even more transformative retail and design concepts in future. 14. I would like to wholeheartedly congratulate Naiise on the official opening of Naiise Iconic today, and I wish the team spectacular success for Naiise Iconic and for all your upcoming ventures beyond this milestone. 15. Thank you.