Net losses - but keep Kalms and carry on?

HAVING reinvented itself as a vending machine vendor to survive, with its last brick-and-mortar stores shut in 2016, home-grown gift retailer Kalms is eyeing China for its next phase.

Last year, it received a massive fund injection - and vote of confidence - from Mainboard-listed Ellipsiz, which bought a half-stake in the holding company for S$10 million. Armed with the new investment, it has unveiled ambitious expansion plans.

These include growing the domestic vending machine fleet from 200 to 2,000 this year alone, as well as rolling out thousands more in China.