When Eugene Tay and Ben Lin ventured into selling perfumes and skincare through cold calls to make extra money, they never anticipated their side business growing into a booming retail enterprise. Novela has established itself in both e-commerce and physical retail, boasting seven outlets stocking popular brands like Estee Lauder and SK-II, as well as local favorites such as Iren Shizen and The Powder Shampoo.
As Novela continues to expand, it is becoming a prominent player in the beauty retail landscape, drawing comparisons to industry giants like Sephora and Sasa. The journey to this success, however, was not without its challenges.
Eugene and Ben initially operated as wholesalers until an opportunity arose to set up a kiosk in Suntec City in 2014. Despite facing difficulties due to mall renovations and low footfall, Novela persisted and eventually found success by strategically positioning their stores in high-traffic areas like IMM in Jurong.
With a keen understanding of their target market and a curated selection of exclusive brands, Novela built a loyal customer base and adapted to market dynamics, even amidst the COVID-19 pandemic. While facing setbacks during the pandemic, Novela turned things around by rapidly transitioning to online sales and strategically opening new outlets when retail spaces became available.
Today, Henatenn Holdings, the parent company of Novela, rakes in over S$100 million in revenue annually, showcasing significant growth in recent years. The brand has also launched innovative concepts like Scented Journals at its Tampines 1 and Paya Lebar Quarter (PLQ) outlets to cater to evolving customer preferences.
Looking ahead, Novela plans to further expand locally and regionally, with ambitions to develop in-house products and establish a flagship store in a prime location. With a strong customer base and successful expansion strategies, Novela is well-positioned for continued growth and success in the competitive beauty retail market. Contact us to learn more about Novela and its exciting developments in the beauty industry.
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[Image Credit: Novela]
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