Brick-Mortar-Cloud Podcast
Season 2 Episode 11:
From Hobby to 8 Stores: By Invite Only’s Retail Journey with Trixie

🎙️ Brick Mortar Cloud Podcast with Trixie Khong (Founder, By Invite Only)

Host:
Welcome to the Brick Mortar Cloud podcast, where we share scaling stories of F&B and retail businesses. This podcast is brought to you by StaffAny. Today, I’m super excited to have with me Trixie Khong from By Invite Only. Hi Trixie, welcome to the show.

Trixie:
Thank you. Thanks for having me.

Host:
Trixie, could you give a quick introduction of yourself and how you got into this business?

Trixie:
Sure. I’m Trixie, founder of By Invite Only. I started the brand when I was around 19 or 20, initially just crafting jewellery in my bedroom at my mom’s place. It started as a hobby, something I really enjoyed doing with my hands. After graduating, I decided to give it a shot for a year, and I just never stopped.

Host:
That’s amazing. So you were already building the business while still in school, and then continued full-time after graduating?

Trixie:
Yes. But I would say the first few years were really about exploring and learning. Instead of failing and starting something new, I just kept going and improving along the way. The first five to eight years were a lot of trial and error, especially in product development.

Host:
And when did retail come into the picture?

Trixie:
Our first permanent retail store was around 2018 at Wisma Atria. Before that, we were in smaller pop-up spaces. That first store was very humbling. It really teaches you a lot. Retail is like a school on its own.

Host:
And now you’ve grown to multiple outlets across Singapore. But I understand you’re also closing some stores this year?

Trixie:
Yes, at one point we had about eight stores. Recently, we’ve closed a few and are consolidating. It’s part of rethinking our strategy. Earlier on, we focused on prime locations for awareness. Now that the brand is more established, we’re thinking about spaces differently, more experience-driven rather than just footfall.

Host:
That’s interesting. So it’s less about being everywhere, and more about being intentional with each location?

Trixie:
Yes. We also have to think about revenue. If you close stores, you’re essentially removing a sales channel. So there’s always a trade-off. But sometimes you need to take a step back to move forward.

Host:
On that note, how has your online versus offline mix evolved over time?

Trixie:
Before COVID, we were about 80% online and 20% offline. As we expanded retail, it shifted to around 70% retail. But recently, we’re seeing growth coming back from non-retail channels again. Customers are spending more time online, especially with platforms like Shopee and social media. So we need to be where our customers are.

Host:
Makes sense. And how do you think about product strategy, especially with different price points and margins?

Trixie:
Every product serves a different purpose. For example, some of our basic items have lower margins because they act as entry products. They’re the first thing customers try when they discover us.

Then there are other products that are designed to anchor pricing. They create a perception of value within a collection. So it’s not just about margins, it’s about how the whole range works together.

Host:
That’s a really interesting way to think about it. Not every product needs to maximise margin, but instead plays a role in the overall strategy.

Trixie:
Yes exactly. And we also have to balance costs. Materials like silver and gold fluctuate a lot, so pricing isn’t always stable. Every time we place an order, costs can change.

Host:
So you’re almost managing commodities in a way.

Trixie:
Yes, in some sense. We have to constantly track prices, manage supplier relationships, and make sure our margins still make sense across all channels.

Host:
Speaking of channels, how important is data and tech in your business today?

Trixie:
We track key metrics like sales, ATV, and GMV. We use Shopify as our main system, and we also use tools like ChatGPT to help us process and analyse data. Sometimes we even use it to generate scripts or help structure reports.

Host:
That’s interesting. And where do you see technology playing a bigger role going forward?

Trixie:
Customer service is one area. We’ve invested quite a bit into automation and workflows. Even with multiple stores, we’ve kept the team lean by building systems that allow customers to self-serve for common issues.

Host:
That’s impressive. And beyond operations, you’ve also done collaborations like Miffy. How does that fit into your strategy?

Trixie:
We want to tell stories through our products, especially Asian stories that resonate with our audience. Collaborations like Miffy help us do that in a more creative way. It was also our first licensing project, and we had to launch it within six months, which was very intense.

Host:
And it turned out well?

Trixie:
Yes, we’re almost sold out. It also helped offset some of the revenue impact from closing stores.

Host:
That’s a great win. Before we wrap up, what’s one piece of advice you’d give to other founders?

Trixie:
Don’t be afraid to take risks, even if they feel uncomfortable. Sometimes you have to make decisions without knowing the outcome. And also, invest in good people. You can only grow as fast as your team.

Host:
That’s a great note to end on. Thanks so much for joining us today, Trixie.

Trixie:
Thank you for having me.