S’pore trader Naiise bought WestStar Group for an undisclosed sum


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Following the news about the domestic seller with more tags Naiisein online return, announced today (September 16) that it has acquired it WestStar Group for an undisclosed sum.

WestStar Group Inc. is an independent, multi-portfolio investment company that provides independent and professional investment advice and personalized investment management services to entrepreneurial families and institutions.

It has since completed the acquisition of Naiise’s online marketplace, as well as accompanying trademarks and social media accounts.

“Under the new ownership, the priority will be to build and improve the Naiise platform to ensure its long-term sustainability and scalability for the wider creative ecosystem. Naiise will also continue to pursue its commitment to advocating for local design, creatives and artisans, ”it said.

What is different is that sellers will now be “paid immediately after each successful order fulfillment,” it adds.

Earlier, the products are sold constantly where suppliers are paid only goods sold, less a commission of between 30 and 45 percent of the retail price.

It is added that they are also working on an incubator model for future and new designers and the concepts of “buy now, pay later”.

Naiise said it would represent more hyper-local, environmentally friendly and independent international brands in the coming months. More than 500 retailers will gradually appear on the platform, as well as the debut of new brands.

To demonstrate its commitment to supporting local businesses, Naiise is extending an exclusive call to merchants, which includes a waiver of registration fees and reduced delivery rates in the last mile, until December 31, 2021.

“Consistent with its mission of inspiring creativity and connecting communities, Naiise strives to be at the forefront of a community gathering that has always valued local designs,” said Ong Lay Ann, CEO of Weststar Group.

“The creative ecosystem is fragmented, and the reintroduction of the Naiise market will allow both consumers and retailers to connect through a dedicated platform. I encourage consumers to support these local designers, creatives and artisans through this difficult period and beyond, ”he added.

Ong is too former CEO now nonexistent hammers. According to him LinkedIn profile, has been the founder and director of the WestStar Group family office since 2001.

He has also become the Director and President of WestStar Industrial Ltd since October 2014, where he is responsible for developing and defining WSI strategies and policies, and ensures that the Board identifies and discusses all key issues in a timely manner.

He also identified himself as the director of Asia Digital Ventures, as well as the director of ISDN Investments Pte Ltd.


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Highlight credit: Naiise / fairbee


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