Following online rumours accusing local candy chain The SGFR Store of money laundering, the founder has publicly shut down the claims while shedding light on the realities of running a niche retail business in Singapore.
Source: The SGFR Store
He also addressed speculation around the seemingly low footfall at the brand’s physical outlets, explaining how the business has stayed afloat amid fierce competition and changing consumer habits.
On Wednesday (31 Dec), Mohamed Haikkel, the founder of The SGFR Store, took to TikTok to refute claims that the chain was a front for illicit activity.
His response came after a Reddit thread on r/askSingapore questioned how the business continued operating despite what one netizen described as a “market-dependent” model.
Several users pointed to observations of largely empty outlets, with some going as far as suggesting the store could be involved in money laundering.
Source: Reddit
Source: Reddit
Mr Haikkel noted that scepticism around the brand was not new. When the business launched in 2022, many doubted it would last beyond six months.
“That’s honestly crazy to me, that just because a business survives, the assumption becomes [that] they are doing something shady,” the 23-year-old said.
Source: @haikkzzzz on TikTok
In the video, Mr Haikkel emphasised that people often do not see what happens behind the scenes of running a business, including being hospitalised twice in 2025 and the hard work required to keep the company afloat.
He shared that the company had come “very close to dying” at several points.
Source: @haikkzzzz on TikTok
He also explained that selling niche products comes with inherent limitations, especially when compared to retail giants such as NTUC FairPrice and Watsons.
This, he said, naturally results in lower walk-in traffic at physical outlets.
As a result, the business experiences both strong and difficult periods, making innovation essential for survival.
Mr Haikkel shared that The SGFR Store has evolved significantly over the years, pivoting from its beginnings as a fishing hub to retailing imported items such as the popular Prime Hydration energy drink.
Source: @haikkzzzz on TikTok
The brand has since expanded further into developing its own consumer packaged goods (CPG).
Source: @haikkzzzz on TikTok
Despite ongoing challenges, he said his team is constantly exploring new ways to stay relevant, from experimenting with fresh marketing approaches to forming strategic collaborations.
Source: @haikkzzzz on TikTok
“From the outside, it’s very, very easy to judge. But from the inside, it’s a lot of hard work,” Mr Haikkel said.
Looking ahead, he revealed ambitions to secure retail space in CapitaLand and Frasers Experience malls. The SGFR Store is set to open new outlets at Bedok Mall and Northpoint City in 2026.
Speaking to MS News, Mr Haikkel said that he was initially upset when he came across the allegations.
However, he was not completely surprised after observing that many retail businesses — even established ones — face similar comments.
“It made me realise how quick people are to jump to conclusions when they can’t explain something,” he said.
The video drew a largely supportive response from viewers, with many expressing encouragement for the homegrown brand.
Some urged Mr Haikkel to ignore the negativity, while others praised his integrity and hustle, calling on fellow consumers to support local businesses.
Source: TikTok
Source: TikTok
However, scepticism persisted among a smaller group of commenters, with some questioning the store’s revenue streams.
Source: TikTok
In response, the company reiterated that it does not sell daily necessities and therefore does not expect constant footfall at its outlets, adding that it supplements in-store sales by hosting events and driving online sales alongside its physical presence.
Source: TikTok
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Featured image adapted from The SGFR Store and @haikkzzzz on TikTok.