CEO Talk at SMU, 27 Sep 12 – The Singapore Self-Storage Story

In Christmas Market 2012, News flash on September 28, 2012 by Lock+Store

Lock+Store’s CEO Helen Ng gave a lecture at Singapore Management University yesterday.  Among the students who attended, most were from the Business faculty, and about 40% of the participants were exchange students.  We felt as if we were at a United Nations meeting, surrounded by bright, inquisitive young minds from all over the world.

The concept of self-storage is still relatively new in Singapore.  The first self-storage facility was set up here in 2003.  Since then, 26 self-storage facilities have been built here.  Still, there is significant room for growth.  Currently, the self-storage penetration rate is about 5% in the UK, and only about 0.3% in Singapore.  The challenge is to bridge the traditionally dull and drab image of self-storage to the masses.

Compared to Hong Kong’s self-storage facilities, Singapore’s are cleaner, brighter, more secure and more efficiently run.  Through a series of “Colourful Self Storage” activities, Lock+Store aims to bring a fresh perspective to the self-storage industry here.  On 1 and 2 December 2012, Lock+Store will organise its first Christmas Market to “re”introduce the concept of self-storage to the public.  About 15 artisan vendors will showcase their wares, which include eco-friendly household products, vintage jewelry, functional ceramic wares, exquisite batik paintings, Swarovski-crystal jewelry, German tableware, dainty cloth bags and more.

The self-storage industry is indeed very colorful, and Lock+Store looks set to repaint the industry in more vibrant colours.


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