While studying at New York’s Fashion Institute of Technology, Donald Kng and Nico Li noticed the expendable income of their female peers. Eager to catch the wave, they decided to create products for women.
“We were looking for a fast-growing market to enter, but fashion was a saturated market,” Kng recounts.” Then, we observed that most young single women in China have pets, usually cats.”
China is currently the world’s third-largest consumer market for women, with 400 million consumers spending as much as RMB10 trillion (SG$1.8 trillion) annually. Consultancy firm Accenture estimates that this is equivalent to the combined retail markets of Germany, France, and the UK.
Kng and Li established pet lifestyle company Vetreska in 2017. It is named after three of their dogs and cats—Verty, Tresco, and Mischka—they adopted together with their roommates in the US.
When an initial line of pet superfoods failed to gain traction, they quickly pivoted to selling cat wine, powdered ice cream for pets, and pet supplements. These became the key revenue drivers during the early years, helping to sustain the business amid intensive R&D.
But the duo always envisioned something much bigger, aiming to reinvent the wheel since Day One. “We want to orchestrate magical moments for people and their furry companions. It’s about transforming the journey of pet ownership into a refreshing adventure,” Kng explains. “We don’t just craft pet products. We redefine them with imaginative flair.”
To push the envelope in product innovation, Vetreska sought to build a brand that resonate with young, fashion-forward customers and conducted comprehensive market assessment. Kng explains that its in-house team of 14 designers gathered insights from various aspects of their lives, including pop culture, fashion, entertainment, and health.
The data inspired a collection of jazzy designs, like a cat tree resembling a cactus and a litter box shaped like a watermelon. The items ranging from beds and carriers to bowls and accessories.
A SENSE OF PURRPOSE
Seven years on, Vetreska has over 80 employees across offices in Singapore, Shanghai, Tokyo, and New York. Its products are available worldwide through approximately 60 distributors and 40,000 retailers in more than 20 markets.
Although founded in New York, Vetreska moved its headquarters to Singapore two years ago. “We chose Singapore as our base due to the country’s strategic location, robust economy, and growing pet ownership statistics. Most importantly, I am Singaporean,” Kng says. His co-founder Li is a Chinese national.
Singapore’s thriving pet market, he points out, is characterised by the high demand for quality pet products and services. Burgeoning support for a pet-friendly lifestyle is also exemplified by One Holland Village, the island’s first pet-friendly shopping mall. “We believe this won’t be the only one in the near future, which is why we opened Fur, our first grooming centre, in the mall,” he says. Apart from grooming services, Fur also offers spa treatments for dogs and cats.
In 2020, after receiving Series B funding, Kng and Li established their global pet organisation V-Group. In addition to Vetreska, its portfolio includes pet food brand Gimmo; Theyknow, which makes jewellery for pets and people; and V Global Investments, a venture capital arm.
In 2022, as a testament to its standing in the pet industry, Vetreska acquired a US$50 million (SG$65 million) investment from venture capital firm Quest FoF. The funds primarily support the development of Future Pet Food, a company under Gimmo. It operates independently from Vetreska.
“This aligns with V-Group’s roadmap for the next growth stage, which is to become a global multi-brand portfolio group serving the pet products industry,” Kng explains. Partnerships in procurement, production, and the processing of global raw food materials have enabled the company to build a pet food supply chain overseas. This means the team is able o refine R&D through collaborative efforts with renowned research institutions, veterinary channels in Singapore, and top universities around the world.
Asked about investors’ biggest draw to Vetreska, Kng jokes, “My endearing charm.” He notes that the company’s unique positioning—marrying functionality with trendiness in pet products—sets it apart from competitors.
Vetreska also has a well-defined global vision. “We are highly adaptable in entering various markets, which distinguishes us from other industry players.” It helps that it is a profitable business. “It instils confidence in investors. We manage Vetreska with a logical and practical approach,” he adds.
Thing are only going to be even more exciting for Vetreska next year. More Fur outlets will open across the island, and current product lines will expand to include themed leashes and collars for cohesive pet looks. New launches will include matching themed merchandise for owners, with items such as lanyards, wristlets, charms, and pop sockets. “These accessories will allow pet owners to share in the style of their pets, making pet companionship even more integrated into their daily lives,” Kng says.
His advice for aspiring entrepreneurs in the pet industry is pragmatic. “Stay adaptable to economic, societal, and geographical changes, and understand your target market deeply. Research their needs and preferences to create products that truly resonate.”
