The game-changing acquisition cements the brand’s position as an industry leader in the direct-to-consumer space and go-to destination for fashion, health and wellness for Asian women globally.
Within a year of its Series C funding, Love, Bonito, Southeast Asia’s leading womenswear brand, has kick-started its evolution into a well-rounded female ecosystem with the acquisition of butter., a Singapore-based women-led activewear brand, and a small stake investment in Moom Health, a Singapore based natural healthcare start-up. This marks Love, Bonito’s commitment towards building a holistic female ecosystem with a house of brands that have been thoughtfully curated for the everyday Asian woman. Its next category expansion in activewear is part of its long-term vision in supporting essential facets of women’s needs within Asia.
“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,” says 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, as it is one of fastest growing segments apparel in Asia Pacific, with a projected five-year compound annual growth rate (CAGR) of more than 8.5 per cent from 2021-2025. The post-pandemic cultural shift in dress code norms has also propelled activewear as a casual alternative beyond workouts.
butter. was established in 2020 by Singaporean female co-founders Olivia Yiong and Tiffany Chng, who are avid sportswomen looking to address a long-standing lack of high-quality affordable activewear with an Asian fit. With their strong sense of strategic thinking and acute marketing and design sensibility, butter. achieved phenomenal growth of $500K in revenue within its first year of operations with only five products, and was on track to achieve 138 per cent YoY growth. It had also established credibility amongst the local fitness scene, with over 100 instructors onboarded on their instructor program.
