An estimated 70 to 90 per cent of businesses fail within 10 years of starting up, due to reasons such as financing issues or poor management. The figure is sobering. At the same time, it also spotlights just how impressive it is for a firm—any firm—to operate for decades, and in some cases even span generations.
Singapore has its fair share of successful businesses that have thrived over generations, and Bynd Artisan is one such example. The brand traces its roots to 1942, when Chan Koon Song started a small bindery workshop. This business would grow and evolve over the ensuing decades, but always with bookbinding at the core of its expertise. As it turned out, it was this know-how, which was viewed as an archaic and increasingly irrelevant skill, that seeded the establishment of Bynd Artisan.
In case you missed it: Opus Legacy Roundtable Series: Ivan and Rachel Hoe on Crafting Their Legacies
In this instalment of the Opus Legacy Roundtable Series, jointly presented by Tatler Singapore and Opus by Prudential, Winnie Chan shares her experience of taking the family business that she inherited in an entirely new direction, all while preserving its values and the expertise of its craftsmen. She touches on topics including how she established rapport with the old guard that has shaped the business, her insights into reinventing the business, and her hopes for the future.