Name of Recipient:
Mr. Eric Teo & Mr. John Lian
French fashion design, Coco Chanel once said, “Whoever said money cannot buy you happiness, did not know where to go shopping.” True enough, many individuals in today’s society turn to retail therapy to elevate their moods. Be it shopping at a local supermarket, online or at a high-end shopping district, it is evident that shopping is a typical activity that all of us engage in every now and then.
In the recent years, the global demand for luxurious goods has been accelerating expeditiously, with brands making millions of sales each year. Purchasing a branded handbag these days seems to be as common as buying a pair of shoes from a local departmental store. The physical allure of luxurious goods is undeniable but it often comes with a high price tag. Unless you have got a fantastic career or great saving habits, luxury consumer goods will sit on your credit card for a long time.
Previously known as Reluzzo LLP, Reluzzo Event Pte Ltd was inaugurated in 2012 to bring in premium goods at discounted prices. The company’s 1800 square feet showroom located at woodlands, features 100% authentic bags, wallets and small leather products of various luxurious brands like Prada, Miu Miu, Gucci and many more. Recently, Reluzzo has also partaked in several road shows held at shopping malls, hotels and event halls.
Apart from their physical warehouse, they also offer an online platform for consumers to take a look and shop for their desired merchandise with ease. Additionally, every online purchase that exceeds $100 will be entitled to free delivery right to the buyer’s doorstep, making it very convenient for shoppers. Reluzzo’s low price point and accessibility has attracted many consumers, as that would mean that they do not have to burn a hole in their wallet just to purchase a product of a premium brand.
Today, Reluzzo stands as a proud recipient of Singapore’s Outstanding Enterprise. However, their success did not come without trials and tribulations. Reluzzo’s founder, Eric, shared with us that they had come a long way since the company began operations. Initially, managing Reluzzo was just Eric’s part-time job, or what he would enjoy doing during his free time. Before the company had their own office and store, Eric had to source for products overseas and put them up on a free listing site.
The trend of people buying and selling on the web is prevalent. With plenty of traffic online, it only took a short period of time before Reluzzo’s sales started skyrocketing. Soon, Eric could barely manage juggling between two jobs, which resulted in his departure from his full-time career in 2013. “It was a tough decision to make, leaving my position as an IT Engineer, but things have only gotten better since. To date, I have not regretted my choice to commit myself fully to Reluzzo.”
As the number of buyers increase on the classifieds page, Eric adopted the idea of having a website of their own. Using his past experience in the technology field, he coded the website by himself. This resulted in many sleepless nights and little time for games, which he is highly fond of. Nevertheless, it is clear that Eric’s determination to make the corporation successful has paid off. “I would never have imagined that we would be where we are today. Although there is still room from improvement, I am glad that we are progressing well,” said Eric.
Having known that this particular industry is highly competitive, Eric sets Reluzzo’s products at a largely discounted price, giving them an advantage over many of its competitors. Furthermore, he makes sure that the company receives ample stocks each month, so that goods do not go out of stock. Reluzzo also takes pride in providing the ultimate customer experience with their buyers. As an effort to make every shopping experience a personalized one, customers are also able to call or message their service staff product images to check availability.
When asked what motivates and inspires Eric to do what he does, he cited that the bigger competitors in the market spurred him to push Reluzzo to greater heights. “Being an entrepreneur is not easy but if you work hard, you will definitely see the fruit of your labour. Be sure of your directions, know your goals and work towards it.”
In the coming years, Eric foresees starting pre-orders for European brands and bringing in goods from Louis Vuitton, one of the more popular luxury names. Second-hand goods have also become a common option for consumers. Thus, Reluzzo is also looking to market used luxury bags, wallets and more, so as to cater to a wider range of buyers. Also, Eric is exploring spaces in the city and heartland areas to start up their next store. He later revealed that Reluzzo’s new outlet will be located at Lucky Plaza, #02-11 by the end of January 2016.
With the many plans in store, it is definite that the best years of Reluzzo are still ahead. The future will be filled with more opportunities and success as the company continues to excel. Perhaps, in a few years’ time, the Singapore Outstanding Enterprise award will only be one of the many milestones that the company has achieved.
11 Woodlands Close, #09-11
Woodlands 11, S(737853)