Our History
Ex I-Econ Franchisor Hanwell Holdings announced on 12th May 2017 that the entire franchise will cease operations on 31 May 2017.
Within this short timeframe, the former I-Econ franchisee management committee — made up of the main key I-Econ outlets — sat down and conducted a comprehensive SWOT analysis of our business model. We recognized that the future of neighborhood retail lay in digital transformation.
Within just 2 weeks, we established New Econ Holdings Pte Ltd, founded with 13 outlets in the group. Today, we have grown to 18 outlets under the New Econ banner, all strategically located in the heartlands of Singapore, staying true to our promise of being "Always Close to You."
May 2017
Former I-Econ franchise faced closure announcement
June 2017
New Econ Holdings founded with 13 outlets
Today
18 outlets across Singapore's heartlands
