JSS kept premium gifts brand Risis afloat so it could pivot to e-commerce, rebrand

Megan Cheah

Published Tue, Mar 29, 2022 · 10:39 AM

JEWELLERY and premium gifts brand Risis has cut its staff strength from 87 at the start of the pandemic to just 49 as of March 2022, due to Covid-19's devastating impact on sales. But without Jobs Support Scheme (JSS) payouts, the cuts might have been even deeper.

"Some (staff) were let go, while others (left) due to natural attrition and we did not replace them as they were not key positions," said chief executive officer Verene Ng.

She credits the JSS with helping the business stay afloat and allowing it to retain key employees.

The initial disbursements helped the company sustain most jobs for at least 9 months in 2020, she said. Most of the staff who left did so only after that period.

Risis will be receiving a final JSS payout on Mar 31, as it seeks to rebrand and emerge stronger.

The financial support under JSS gave Risis the flexibility to pivot towards e-commerce during the Covid-19 pandemic.

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The company used to be heavily reliant on sales from brick-and-mortar stores and to tourists - but Covid-19 curbs and travel restrictions took a toll.

Risis therefore looked to add another revenue stream through e-commerce, said Ng.

"We had to evolve to adapt to the changing retail landscape, as well as customer-buying behaviours," she said, noting that the online platform saw higher overall sales whenever Covid-related movement restrictions were imposed.

With the lack of tourist customers, Risis is also in the midst of rebranding itself as a fashion and lifestyle brand, rather than a souvenir and gifts brand.

This would encourage customers to purchase its products for themselves rather than as gifts, said Ng. The company will complete its rebranding in a launch event in April.

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