Bynd Artisan: Innovating Luxury through Craftsmanship and Diversification

Bynd Artisan: A Retl Luxury Brand's Journey of Innovation and Transformation

In May 2020, Winnie Chan and James Quan, the co-founders of Bynd Artisan Bynd, were strategizing about their brand expansion plans for their second venture set to launch in 2021. Established in October 2014 as an indepent entity from Chan’s traditional paper and leather goods family business, Bynd quickly evolved into a prestigious retl luxury brand known for its dedication to artisanal mastery and heritage through bespoke products and craft workshops tlored for enthusiasts and organizations.

Bynd's branding strategy that targeted the exclusive luxury segment med at revamping their company’s rich legacy, enhancing product value, and reinventing their retl platform. We decided to embrace and innovate our business model rather than discard our traditional artisanship, shared Chan.

Prior to 2020, Bynd operated through five brick-and-mortar stores in Singapore, including a flagship atelier in Holland Villagea hub for local brands, three standalone retl stores nestled within premium shopping malls Ion Orchard, Takashimaya, and Raffles City, and one shop-in-shop outlet located in the high- fashion boutique Pedder on Scotts. The company's accomplishments included winning 'Design of the Year' at the President’s Design Awards in 2016, followed by Singapore Tourism Board's selection of Chan and Quan as 'Passion Made Possible' Ambassadors in 2019.

Bynd actively engaged a public relations firm to help strategize market expansion plans that focused on new product launches, store openings, and other events. The founders invited influential personalities within the community and media representatives to experience Bynd's ateliers through workshops and gift bespoke ite generate positive word-of-mouth marketing. Additionally, Chan and Quan took on an active role as brand ambassadors, engaging extensively with media outlets for frequent interviews and participation in public events.

The concerted effort to build a strong retl presence strengthened Bynd's appeal among corporate clients significantly. Previously, we had no control over branding; our products carried the mark of the purchasing company instead of ours. Corporate buyers were extremely price-sensitive, making price the decisive factor in their decision-making, shared Chan. Today, despite Bynd commanding a 20 to 30 higher premium than other Original Equipment Manufacturers or traders, corporates prefer our products for gifting and insist on using our brand name. Clearly, our perceived brand value far surpasses the price premium we charge.

Bynd's existing product line, characterized by intricate designs and premium pricing, primarily catered to professionals, managers, executives, and technicians aged 23 years or older. Chan recognized the need to explore new customer segments, particularly young adults in the age group of 18 to 23 years who valued affordability alongside quality and environmental consciousness.

To reach this audience, Chan and Quan decided to introduce a second product line under the brand name ‘reBynd’. This new collection featured recycled materials with simplified yet modern designs and was priced significantly lower than Bynd's existing offerings. Chan believed that by combining affordable luxury with sustnability, reBynd would resonate well with young adults who appreciated quality products while being mindful of environmental impact.

This case study provides an in-depth look at building a heritage-based luxury brand, emphasizing the importance of innovation in marketing strategies and retl platforms. It also highlights Bynd's journey in expanding its appeal among different customer segments through strategic product diversification.

To access the full case study, please visit the CMP website: Click hereinsert link.

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