Designer labels at discount prices are being offered at a new luxury outlet just off Orchard Rd in Singapore.

Covering 13,000 sqft (1208 sqm) on the second floor of Furama RiverFront hotel in Havelock Rd, Mondo Vantaggio has more than 40 European brands, including Balenciaga, Burberry, Gucci, Miu Miu, Prada, YSL and Versace. While mainly leather goods and bags, there are also ready-to-wear clothes and shoes.

For its opening, the store dropped prices by 30 per cent for the first few days, and group CEO Eddie Wong says future special promotions could offer discounts of “maybe even 50 per cent”. He says the store is part of a Hong Kong company that is a wholesaler of luxury goods, and can retail at lower prices because it buys in bulk direct from the source.

About S$3 million (US$2 million) was spent on the store’s decor, and it staff members wear gloves when helping customers. There is a VIP room where where customers can request private viewings. New merchandise goes on the shelves every two weeks.

Inside the store is a cafe that can seat 50 customers, run by The Tiramisu Hero.