The brand Risis, considered one of the most prominent brands in Singapore, celebrated its 50th anniversary, seeking to redefine its identity to suit new generations. Under the leadership of CEO Verin Ng, who took charge in January 2020, Risis aims to transform the orchid, Singapore's national flower, from a mere souvenir into a symbol of global fashion.
In June of last year, a fashion show was held in the Le Marais area of Paris, where models wore jewelry featuring orchid designs, reflecting the transformation the brand is undergoing. Risis has long been known for offering gold-covered orchids as souvenirs, but it now aims for greater ambitions.
Event Details
Risis was founded in the 1970s by Dr. Lee Kum Tat, who invented a technique for preserving orchids in gold. The idea was to provide a national gift representing Singapore, similar to Japanese pearls or Thai silk. In 1976, Risis introduced its first gold-covered orchid brooch, capturing the public's attention.
Today, Risis remains committed to that unique technique, where the perfect orchids are selected from a climate-controlled facility, then coated with a thin layer of copper before being immersed in a special electrolytic solution. Each piece is considered a unique work of art, distinguishing it from other jewelry.
Background & Context
Over the decades, Risis has expanded to include a variety of home products, including art frames and office supplies. However, Ng acknowledged that the brand's overall image had become outdated in the eyes of many, even considering it so herself in the past. But with the redesign of the collection to be more contemporary, Risis has begun attracting a younger audience.
Under Ng's leadership, Risis has undergone a rebranding, introducing more modern designs that include stylish and bold jewelry pieces. Today, the largest segment of Risis customers is aged between 25 and 34, with increasing interest from younger individuals aged 18 to 24.
Impact & Consequences
Risis is now seeking to expand its reach beyond Singapore, focusing on markets in Southeast Asia, the United States, and Europe. E-commerce is a crucial part of this strategy, with the website being optimized to include multiple languages and currency conversions.
However, Risis faces global economic challenges affecting consumer spending, along with rising raw material costs. Yet, Ng confirmed that the company aims to maintain its prices while improving manufacturing efficiency instead of passing costs onto customers.
Regional Significance
The experience of Risis serves as a model for Arab brands seeking to expand into global markets. Arab brands can benefit from Risis's strategies in redefining cultural identity and transforming it into contemporary products that meet the needs of new generations.
In conclusion, Risis's celebration of its 50th anniversary marks a milestone in its history and reflects its commitment to innovation and sustainability. With its ambitious expansion plans, Risis appears to be on the right path to becoming a leading global brand in the jewelry sector.