Unless you’re born before 1980, you would most likely not have heard of 2nd Chance clothing line. It was basically a brand that used to be as hot as H&M now, catering mainly to boys.
Many old boys would have the impression of it as a hipster brand that came from overseas, since many of its advertisements comprised ang mo boys looking cool. Apparently, it’s a local brand that was established in 1975, and expanded rapidly in the early 80s. In its peak, it had eighteen outlets in Singapore and seven outlets in Malaysia. Back in the 80s and 90s then, it was the in thing to wear.
So, what happened to it?
Apparently, somewhere in the 1990s and 2000s, the sales of the brand seemed to have declined. In 1997, during the Asian Financial Crisis, prices of commercial properties dropped, and the owner of 2nd Chance took the chance to buy retail properties at low prices, and therefore changing the name to Second Chance Properties and focusing on its property business that is more lucrative.
At this moment, the company still sell clothes, but with its First Lady brand—a traditional Malay apparel. This time, it has three outlets in Singapore and forty-one outlets in Malaysia.
The company, as of 2014, holds fifty-six properties in Singapore and one in Malaysia. And here’s the interesting part: despite us not seeing the 2nd Chance brand anywhere now, Second Chance Properties is now a listed company.
In other words, the company that made the clothes we used to wear as a kid is now making money by renting out properties. It’s interesting how the world works, eh? Maybe a few years down the road, we might just see H&M renting properties as well? Who knows?