SoftBank-backed Style Theory ends conflict with laundry vendor via new agreement

A dispute between Style Theory, a Singapore-based fashion rental startup backed by SoftBank, and Indonesian laundry vendor Beyond has come to an end.

Style Theory’s founder Chris Halim and Beyond’s director Armando Ong said in a joint statement that both companies had found an amicable resolution regarding a laundry service agreement between the two firms. The parties signed a new agreement last week, according to the statement.

Style Theory’s Box / Photo credit: Style Theory

In June, Beyond, which built a laundry and dry cleaning facility in Greater Jakarta to provide services for Style Theory, had accused the fashion rental startup of breaching the contract. The laundry service company said the Singapore firm had failed to make its payments since early 2021 and had not responded to Beyond’s call to adjust the agreement’s terms and conditions. This led the laundry vendor to draw up plans to file a lawsuit in a bid to settle the issue.

Read: SoftBank-backed Style Theory faces lawsuit from laundry vendor

At that time, Style Theory responded saying that it was not breaching its contract and added that the intended legal action did not take into account Covid-19 as a force majeure event as stipulated in the original agreement.

With the new agreement now signed, Beyond will not be filing a lawsuit, and both parties will continue their relationship.