Love Bonito is dressed up for success

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Hello reader,

In Singapore, there’s a running joke that Love Bonito is the brand of choice for office ladies (often abbreviated to “OLs”). Like, are you really an OL if you don’t own a few pieces from this fashion brand?

I can’t relate to this – partially because I don’t think I count as an OL, but mostly because I turn up at the office in T-shirts and jeans. But I won’t deny that Love Bonito has a great selection of products, and it’s one of my first ports of call when I need to buy a new dress for a fancier occasion. I also appreciate how versatile its pieces can be.

So it’s good to hear that the company’s financials are in good shape and it’s on the path toward profitability. We take a closer look at these figures in today’s premium story.

Today we look at:

• Love Bonito’s 2023 numbers and what’s next for the brand
• A Shenzhen-based robotics startup’s latest fundraise
• Other newsy highlights such as Indonesia’s and Singapore’s reactions to Trump’s tariffs and Ant Digital’s new headquarters in Hong Kong

Premium summary

Fashion, fashion, put it all on me

Image credit: Timmy Loen

Love Bonito had a pretty good 2023. Its revenue grew 37% compared to the previous year, and it cut its losses before taxes by around 27% year on year.

• Expand and grow: The brand is actively expanding its presence across Asia, opening new stores in Jakarta, Hong Kong, and the Philippines. It’s also tailoring its strategy to meet the needs of its different markets.
• Focus first: Love Bonito has paired its expansion efforts with initiatives to make its operations leaner. These moves include streamlining its warehousing, increasing the efficiency of its marketing spend, and cutting the production of new clothing styles to focus on a narrower range of products that better suit customers’ needs.
• On track: The company hasn’t had the easiest time so far, having cut 7% of its workforce in October 2024. However, it’s still on track to generate over US$75 million in revenue and hit EBITDA profitability for 2025.

Read more: Chic in black: Love Bonito expected to be profitable in 2025

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