Singapore-based womenswear retailer Love, Bonito is doubling down on long-term expansion plans in the Middle East after trimming losses and achieving EBITDA break-even through operational restructuring and tighter cost controls.
The fashion brand said its performance improved after exiting unprofitable channels and customer segments, optimizing marketing spend and restructuring parts of its international business, including scaling back operations in the US to focus more heavily on Southeast Asia and other high-growth markets.
CEO Dione Song said the company’s revenue in 2025 declined “modestly” compared to 2024 as it shifted focus toward more profitable customer cohorts and streamlined operations.
Song added that Love, Bonito achieved EBITDA break-even during the year while net losses improved by roughly 36% year-on-year.
According to Dealroom data citing the company’s audited 2024 financials, Love, Bonito posted revenue of US$72.2 million, up from US$70 million previously, while pre-tax losses fell 34.7% to US$8.7 million.
Singapore, which accounts for around half of the company’s business, recorded weaker sales amid softer discretionary spending, but growth in overseas markets including Hong Kong and the Philippines helped offset the slowdown. The company also reported that Singapore sales rebounded by more than 10% year-on-year in the first quarter of 2026.
Love, Bonito has increasingly focused on regional fulfilment and localised distribution capabilities as part of its efficiency strategy. The company streamlined warehouse operations and expanded local distribution centres to support faster deliveries and lower logistics costs across Asia.
The retailer currently operates about 28 stores across Asia and is accelerating expansion in Thailand through a partnership with Thailand’s Central Group, with plans to open three stores in Bangkok this year.
Alongside Thailand, the Middle East has emerged as one of the company’s priority long-term growth markets as Love, Bonito seeks to strengthen its international footprint beyond Southeast Asia.
Founded in Singapore in 2010 by Rachel Lim, Velda Tan and Viola Tan, Love, Bonito has evolved from a blogshop into one of Southeast Asia’s best-known digitally native fashion brands with an expanding omnichannel retail presence.
Alongside direct retail operations, Love, Bonito has also leveraged strategic partnerships and franchise-style market entry models to accelerate regional growth. The company recently partnered with Thailand’s Central Department Store Group to launch three Bangkok locations, while Cambodia remains one of its franchise-operated markets.
