Singapore-based leather company Faire Leather Co. has surpassed its initial target of S$50,000 (US$38,151) to achieve over S$406,000 by the end of its crowdfunding campaign not too long ago. This reportedly places Faire Leather Co. as the highest funded Kickstarter project initiated out of Singapore to date.
In November 2017, Faire Leather Co. launched a Kickstarter campaign, utilising crowdsourcing to help launch its first collection of luxurious yet functional leather bags and small leather goods. In less than 36 hours, over S$40,000 of the S$50,000 target was already pledged. The initiative aimed to fund the production of the first two signature designs from Faire Leather Co.’s The Bond Collection – the briefcase and the padfolio – for the style-savvy modern man.
Faire Leather Co. leverages direct-to-consumer (DTC) pricing and as a vertically integrated company, it runs and owns its factory, giving the label control over every process from production to delivery.
Additionally, Faire Leather Co.’s joint venture with Y Ventures Group (a listed, Singapore-founded, e-commerce company with a proprietary data analytics system and presence in over 20 online marketplaces around the world) has guided the brand’s fundamental understanding of target consumer mindsets and behaviour, and driven its strategies for differentiating its value proposition, according to the company. It also holds regular focus groups and has a chat system on its website that engages with customers in real time online, along with a review section for comments.