Luiga, the Singaporean homewares retailer has now received SG$10 million (US$7 million) in Series A funding from Indonesian conglomerate Konimex. The new funds will enable the retailer to boost its current operations within the Indonesian market, where it will be doubling its workforce over the coming six months and increasing its number of physical stores to meet growing omnichannel demand.
“Indonesia’s potential is immense with its burgeoning tech-savvy demographics. We want to be right in the action and unlock the economic potential in growth by 2025. In particular, we’re observing a noticeable sensibility within the Indonesian consumer market; consumer preferences are evolving where brand affinity is now pegged towards how one’s personal values align with a brand’s broader values and mission”. – Luiga’s chief growth officer Jaslyn Chan.
Luiga currently operates nine stores within Singapore.
