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Shoes and more shoes... $500,000 worth, to be exact

SELF-PROFESSED SHOPAHOLIC: Singaporean Kane Lim, a fashion-major undergraduate at a California university, with his branded shoe collection. He also owns a customised Ferrari with its signature insignia replaced with a panda logo, and, of course, Chanel bags.


    Mar 14, 2014

    Shoes and more shoes... $500,000 worth, to be exact

    MEET the rich kids of Singapore.

    Like Kane Lim, whose Instagram account @kanelk_k features numerous snaps of his Chanel bags, his enviable shoe collection worth at least $500,000 and his customised Ferrari with its signature insignia replaced with a panda logo because the animal is his "online persona".

    Mr Lim, 24, is one of the people regularly featured on the popular Tumblr blog Rich Kids Of Instagram, which is a compilation of photos taken from the Instagram feeds of rich young adults and features pictures of expensive watches, champagne parties, fast cars and highly coveted designer bags.

    The fashion-major undergraduate at a California university has amassed over 42,000 followers since he started his Instagram account two years ago.

    There is even a personalised video message from US pop superstar Mariah Carey thanking him for his donation to St Jude Children's Research Hospital in Memphis, Tennessee, which she raises money for.

    The self-professed shopaholic who owns at least 200 pairs of branded shoes - some of which cost over $8,000 each - said: "I bought all my shoes using my own money.

    "My dad probably bought me one pair. I do buy expensive things, but that's because I am a big advocate of quality and craftsmanship."

    Mr Lim's favourite brands include Balmain, Givenchy, Cartier, Christian Louboutin, and Sue Gragg jewellery.

    He added: "Sometimes, my mum nags me for overspending. But I make my own money and pay for them myself. If I lose everything tomorrow, at least I am happy now."

    He is eyeing a Rolls-Royce Wraith - estimated to cost US$300,000 (S$380,450) - and has gone for a test drive in the United States.

    Mr Lim, who comes across as a humorous and confident young man, said: "I set up this account for fun. It's like a daily look into what I wear, and serves as a platform for me to showcase my fashion sense."

    Others may take being featured on Rich Kids Of Instagram as a badge of honour, but Mr Lim was quick to dissociate himself from it, emphasising that he was not proud to see his photos there.

    During the interview, he also played down his wealth, and declined to reveal how much he usually spends on a shopping trip.

    He said: "I find the blog borderline distasteful as it is about flaunting wealth nonchalantly."

    Even though Mr Lim hails from a wealthy family in Singapore that runs a billion-dollar business, he said he started his own business when he was just 17 years old and made his first million three years later.

    He declined to reveal details of his family's business as well as the identity of his father.

    Now, he dabbles in stocks, invests in start-ups here and in the US, and is planning to open an ice-cream chain franchise in the Middle East soon.

    The entrepreneur revealed that he received a five-figure sum from his father to help him kick-start his business, but that he managed to repay him within two months.

    He is aware that there are people who criticise him for flaunting his wealth online, but he tries not to be affected by it.

    He said: "People don't see the 99 per cent of me and the hard work I put into my businesses. I can't please the world, and I can't please everyone. I am not going to apologise for who I am."