So, what else do we know about Lim, and what is the story behind the popular Singaporean home-grown fashion brand?
Rachel Lim dropped out of university to focus on entrepreneurship
According to business website Another Start-up Story, Lim took a chance on her start-up and forewent her final year at Nanyang Technological University. Before dropping out, she was on a path to earning a degree in teaching.
“I always just loved to influence and impact people. Be it through education, or be it through the people we appeal to at Love, Bonito,” she said in her interview with the publication.
In the same interview, the Singaporean businesswoman shared a story about how she had to borrow from her mum’s savings to initially finance the business and venture into designing her own clothes.
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Her brand Love, Bonito has secured multimillion-dollar funding commitments
Given the steady rise of the start-up, Lim and her business partners had already secured funding from various investors worldwide.
In 2018, Venture Capital Journal reported that the company secured US$13 million in series B funding led by Japanese comparison shopping site Kakaku. Three years later, Love, Bonito would secure US$50 million more in series C funding led by Primavera Capital Group, stated Channel NewsAsia.
Per Yahoo! Finance, the financial backing would be used to strengthen the company’s growth in international markets, including Hong Kong, Japan and the United States.
Her net worth is now in the millions, too
The 35-year-old Singaporean fashion magnate’s net worth is estimated to be somewhere between US$1 million to US$5 million, according to PopularBio. With how the business seems set for future success, it won’t be a surprise to see that number go up.
The biggest draw of Love, Bonito is how its products cater specifically to Asian women’s sizing while keeping up with the latest fashion trends. The brand has a massive presence in regions like Singapore, Malaysia, Indonesia and the Philippines, per Asia News Network.18 dazzling celebrity high jewellery looks at the Hong Kong Film Awards
She is a mum who enjoys creative writing on the side
When she isn’t working, Lim is known to spend most of her time with her family. She married interior designer Leonard Lee with whom she shares a two-year-old son. On her Instagram profile, the entrepreneur mum often shares snaps of her candid moments with their growing family.
She also maintains a personal site for creative writing and thought leadership called RachReflects.
She has been recognised by Forbes
Throughout the years, the Singaporean fashion millionaire has garnered a few accolades under her belt. One of the most notable recognitions was from Forbes, as she was included in its 2016 edition of 30 under 30 Asia.How Grace Chan went from Miss Hong Kong to proud mama – exclusive interview
For a 2023 International Women’s Day story, Lim was featured in a Vogue Singapore collaboration article with banking giant HSBC on financial literacy and modern-day wealth in Asia.ncG1vNJzZmivp6x7tK%2FMqWWcp51kuqKzwLOgp52jZMC1xcueZpydnJqvs7XTsmaaqqSesK2xjmxpanBiaoFwucSeq2aqkZi1priMpaCmZaOeu6itz6ipnpmeYrCwecWorKeclad6rbvVnmSbp56ewbB50qGcZpqflsC1v4ymrKWsmaK2rbjIqKVmnJ%2BhuaK%2BjKecrWWnpL%2B1tIyapZ1lmJq%2F