At the Crossroads for Change
Change often poses its set of challenges, and this has often been the case for successful, family-operated companies that have grown from strength to strength. However, for two such businesses in Singapore — Lee Wee & Brothers and LeCaine Gems — embracing this inevitable transition has been a unique experience, which we spotlight in this edition of the eBulletin.
Lee Wee & Brothers, a 23-year-old food heritage brand, and LeCaine Gems, a purveyor of sustainable luxury jewellery, find themselves at pivotal junctures in their respective journeys. These homegrown brands have welcomed change, but the prevailing question remains: How can they manoeuvre through these transformations sustainably and successfully? Which is the optimal path, and what are the right opportunities?
In a bid to align with evolving customer preferences while holding true to its core values, Lee Wee & Brothers has expanded its portfolio to include a new line of frozen foods. The next step is to effectively resonate with and appeal to its target audience by deploying a precise and targeted strategy.
Conversely, LeCaine Gems, founded in 2013, specialises in bespoke jewellery featuring lab-grown diamonds, diamond alternatives like moissanite, and ethically sourced gemstones. To uphold its position as a market leader, the company is exploring innovative strategies to enhance its e commerce and retail businesses.
Both brands leveraged the insights of student-consultants from the UOB-SMU Asian Enterprise Institute’s (UOB-SMU AEI) flagship SME Consulting Programme (SCP) under the guidance of industry veterans. The practical solutions proposed provided immediate benefits and a roadmap for future growth for the companies.
Curious about how the SCP can provide your SME with fresh perspectives to carve its trajectory? Connect with us and learn more about our approach.
|Mapping a Journey to the Stars: LeCaine Gems (Project Scope: Business Strategies)
Founded in 2013, LeCaine specialises in bespoke jewellery crafted from lab-grown diamonds, diamond alternatives like moissanite, and ethically sourced gemstones. It is Singapore’s leading jeweller for lab-grown diamond jewellery and moissanite — a gemstone discovered in a meteorite crater by French scientist Henri Moissan in 1893 — with the largest physical inventory of these products in the local market. Read more
|Refreshing the Recipe for Success: Lee Wee & Brothers (Project Scope: Market Research & Strategies)
Heritage food brand Lee Wee & Brothers originated from one woman’s passion for cooking. The Lee family matriarch, Madam Mary Teo, considers food to be her love language. The dishes she created became the highlights of large, weekly family gatherings and social events. Her scrumptious otah is just one of the many heritage recipes for which she is renowned. Read more