Reizo: Undressing the Story Behind a Fashion Entrepreneur

reizo-undressing-the-story-behind-a-fashion-entrepreneur

REIZO is a custom tailoring business, recently opened at Wilkie Edge. In a world where tailored suits cost more than blood transfusions, Reizo manages to deliver quality at cut rate prices. That isn’t the only unusual thing about them; this fresh start-up had some unlikely roots. MoneySmart did some probing, and we nabbed while we were at it.

Vishnu at the Reizo Store at Wilkie Edge

REIZO is a custom tailoring house, located at Wilkie Edge. Just a few years old, they already have a faithful following. REIZO’s custom suits suggest a wine-sniffing, caviar-munching elegance, which sets you a head above your less dressed colleagues.

At the helm of Reizo is young entrepreneur Vishnu Vasudeven. Graduating from NUS with a major in finance, he gave up a comfy bank job to create Reizo. In his own words:

“I wanted to do something different. I tried internships (at the bank) and didn’t like it. I wanted to start my own thing.”

Reizo in the Singapore Scene

Reizo is challenging the notion that tailored suits are (1) unaffordable and (2) boring. It’s a form of product differentiation. Walk down Orchard Road and you’ll find a tailor in every second building, pitching designs that were probably trendy when Grease was rebellious.

By going against the crowd, Reizo’s getting Singaporeans to rediscover tailored apparel . Their suits are affordable, snazzy, and made with obsessive attention to detail.

Starting Up

Reizo is one of Singapore’s success stories, starting with a capital of just $75,000. That may sound like a lot, but not in this industry; tailored suits have a higher production cost than off-the-rack clothing. Also, there was the worry that Singaporeans wouldn’t be interested; Reizo had to persuade investors that mentalities like mine (i.e. people who think that t-shirts with copulating skeletons is classy) could be corrected.

So where did the seed money come from?

$15,000 came from Vishnu’s family. The rest of Reizo was funded by Spring Singapore. Vishnu mentions that:

“Without Spring Singapore, I may not have been able to start the business at all.”

As to his family, Vishnu says the issue wasn’t the amount of money. They were just worried about the risk he was taking. Vishnu told us that:

“It was difficult to convince them that the risk is worth taking. I had studied finance and they thought working with a bank is a better and more stable option. So I had to prove to them that I was sure of my decision”.

But were they right about the risk behind Reizo? Vishnu thinks so:

“Your own business is not very lucrative for the first 6 months to a year. In fact, 9 out 10 business fail so it is a big risk. But it is worth it if it takes off. That’s why you take the risk, in hopes that you will do well in the future.”

Even with lenders in place, Vishnu made it a point to find alternative income. He spent time tutoring, and cut down on his own expenses.

“I would go hang out with friends at the park instead of the club,” he says.

How’s Business?

Vishnu explains that Reizo sees seasonal trends. Some months profits soar. Other times, they just manage to break even. But his business goals are all on target.

“I want to add more lines of products, and more shops in the coming years, so those plans are still on.”