Crafting a lasting legacy takes dedication. Hear from Winnie Chan of Bynd Artisan and how she has taken over her grandfather's 80-year-old legacy.
As the third generation steward of a family business centred on craftsmanship, Bynd Artisan’s Winnie Chan has taken things in an entirely new direction.
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 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.
Chan’s experience mirrors what many individuals face as they embark on their personal journeys of crafting a legacy—the process is a fulfilling one, but not without its challenges, which are constantly evolving. For individuals who are embarking on wealth management and legacy planning in a personal capacity, there is Opus by Prudential. By leveraging on its professional expertise and bespoke solutions, they can be confident of a smooth journey every step of the way.
The Opus Legacy Roundtable Series is a partnership between Opus by Prudential and Tatler Singapore, and features iconic business leaders who have created their own family legacies. Each conversation delves into the lives of these successful figures while exploring the various aspects of a legacy.