Tom & Stefanie down to three stores from 10 as founders' daughter aims to keep business going
The founders’ daughter, who is also named Stefanie and grew up helping out at the family’s stores, says she wants to keep the business going for longtime staff who have been with the company for almost 20 years.
Tom & Stefanie, a Singaporean family-owned children's store, has reduced its number of stores from 10 to three following the closure of two additional outlets. The founders' daughter, also named Stefanie, aims to keep the business alive for long-time employees and employees who have been with the company for nearly two decades. Her parents opened the first store 32 years ago, and Stefanie has been working in the family business since a young age.
Despite the challenges, including rising rents and competition from online retailers, Stefanie believes that some of Tom & Stefanie's products are cheaper in-store than online.
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