ILOVESALES Singapore Pte Ltd started as a home-based, online retailer in August 2010, participating in various road shows and flea market events. In July 2011, iLoveSALES joined the e-commerce world by joining Qoo10 as a seller, Groupon as a merchant and launched iLoveSALES.sg ver1.0 in the following month. We upgraded ourselves from a normal seller to a Power Seller on Qoo10 by October 2011 and surprised ourselves with a decent 6-figure revenue by the end of FY2011. Decided to run the business professionally and move out of the home office in November 2011.
In November 2011, we procured a warehouse rental to establish the business professionally, and to offer customers the option of personal collection versus only delivery options. This way, customers can be assured of our product quality guarantee. And unlike the many other deal/voucher sites in Singapore, we DO NOT resell products that belong to a third party merchant. This way, you know that we take responsibility for our own products. And you will not face the common situation of inquiries bouncing off between the deal sites, merchants and yourself. We will be able to control the quality, shipping and prices with greater efficiency and transparency as compared to deal sites who works on a commission with merchants. It was here that we managed to build on our previous success and brought in numerous products, with some turning out to be bestsellers online.
And who can forget the loom bands craze that hit Singapore during the June school holidays of 2014? We had long snaking queues of eager parents who wanted to get their hands on these colorful bands for their kids. It was also then we realized the importance of sending toys made of material that may be sensitive to kids for testing.
By the end of 2014, a good percentage of our customers preferred to pick up their purchase instead of bearing the risk of receiving their package damaged by the courier. New plans were hatched to further expand our showroom and collection centre. To address our customers' needs specifically, we expanded our operations by procuring another warehouse rental to showcase our products and extended our retail hours in-store in 2014. By this point, we have increased our online presence to working with more than 15 online shopping platforms, which includes platforms such as Lazada Singapore, Homplify Pte Ltd, Rakuten Singapore, NTUC Plus! Marketplace in addition to our earlier partners.
There is also an extensive network of physical shop owners, push cart entrepreneurs as well as flea market participants which we have established a professional working relationship with as well. To serve our corporate clients better, ILOVEGIFTS LLP was established in 2015. Till date, we count agencies and MNCs such as National Library Board, Ministry of Home Affairs, Singapore Prison Service, Temesek Polytechnic, Heineken and Shell among some of our satisfied clientele.
It was on a sourcing trip during March 2015 that the idea to situate a purchasing & logistic centre in China was sprouted. It will increase the pace to bring new products to the Singapore market 3 times faster and trim logistical expenses by 40%. So one year on, in March 2016, an office and warehouse was set up in China, Zhejiang, Yiwu to enable iLoveSALES to operate with greater efficiency and facilitate bigger dreams.
Embarking on a new phase to improve business operations in 2016, we hope to improve our service and quality standards further. C'est la vie!