SINGAPORE: Even if you don’t own one of its products, you would probably have seen PRISM+ ads on social media, often marketed by young influencers.
Quickly becoming one of Singapore’s most recognizable local brands, PRISM+ has been one of those that have thrived during the pandemic, as those stuck at home have purchased its range of TVs and computer monitors. suitable for wallets.
Now the brand wants to go beyond home entertainment and tackle home appliances.
“It’s a standard transition,” co-founder and chief executive Jonathan Tan said in an interview with TSWT this week. “Just like you see Samsung and LG, they all have home appliances.”
The company is also setting up physical stores and plans to open up to six in Singapore. by the end of the year.
PRISM+, which entered the market in 2017 with gaming monitors at very low prices, has steadily expanded its product line over the years to include different types of computer monitors, televisions and, more recently, gaming monitors. sound bars.
The company has also strengthened its warehousing, delivery and customer support resources over the years, which will lend itself well to its new line of business, he added.
“Given our success in Singapore and our core competencies, we believe we can provide a lot of value in household appliances such as your air conditioners, refrigerators and washing machines.”
For now, PRISM+ is keeping its line of home appliances under wraps and only saying that its first product will launch early in the third quarter.
The next quarter will also mark the opening of its first three retail stores.
Operating on a “direct-to-consumer” business model, which cuts out middlemen such as distributors or other electronic retailers, PRISM+ records all of its sales online.
But the company strongly believes in giving customers an offline experience of its products, Tan said, noting how the brand regularly participated in major electronics shows before the pandemic. As social distancing measures eased, it recently restarted atrium sales and other events. He also opened a pop-up store at local furniture retailer HipVan’s experience store in Suntec City.
“We’ve always believed that offline experiences are very important because (they allow customers) to touch and feel,” Tan said.
“Now that we’re more established, we think adding more offline touchpoints will help elevate the brand,” the 34-year-old added, noting that the push to brick and mortar also comes at as the online space becomes “very saturated”.
PRISM+ is tight-lipped on the locations of its upcoming retail stores, citing ongoing negotiations for some, but noted that it is considering high-traffic locations and wants good coverage across Singapore.