So how lah. It's no different than saying the local cultural equivalent of Paul Smith already exists... when anyone who cares already knows that.
The local re-tailoring of kebaya from Vn, was the weak-point that broke the proposition.
If I were OP I'd look at existing premium offerings that you can piggy-back off/imitate. Maybe now I sound contrary, but it's way easier than having your 'perfect original idea, that makes you a billionaire' that many dream off, but 99.99999% never get. But keep your supply chains local, SGn, at least to start with.
I think its why in Sg you see so many snacky concept food-stalls: the cost of setting up is not so outrageous. But how many start-up boutiques do you see.... few... it's just way too risky. Tomorrows new internet wow, or grunge band wow... no, not in SG, not least as most families don't have lofts or garages.
p.s. Oh ps, this is what ModKebaya are like, just in case you're curious...
http://www.youtube.com/watch?v=BSveFOhMExc
mod|kebaya 2012 Commercial
They have more recent stuff I think but I don't follow them that closely. I just like that ad and how the videographer(etc) got all of that packed so neatly into 30 seconds...