Singapore Latest News - Inside Retail Asia

Psst! Want to buy a Rolex?

Rolex sales are soaring in Singapore, and other Asian cities as the Swiss franc’s value rises rapidly. Staff of Singapore’s highest profile luxury watch chain The Hour Glass told AFP sales of Swiss brands have risen markedly in recent days, especially of Rolexes. Most of its stores along Orchard Rd sold 25 to 30 Rolexes each day last weekend – far more than the usual five or six. Most sales were of ‘entry level’ models, costing S$10,000 upwards. Some stores are running out of st…

Marimekko to open two Asian flagships

Finnish homewares specialty retailer Marimekko is to open new flagship stores in Bangkok and Singapore. The move marks a continuation of a concerted push into the Asia-Pacific region. Over the last three years Marimekko has expanded into China, Hong Kong, Taiwan, Australia and New Zealand. In the first quarter of this calendar year the brand will open company-owned stores in Singapore’s new Capitol Piazza mall and in CentralWorld, Bangkok, which attracts as many as 150,000 shoppers per d…

Pure Gold for Changi

Pure Gold has become the first Middle Eastern jeweller to be granted a concession at Singapore’s Changi International Airport. It will open a jewellery store in Terminal 1. Pure Gold is a private family-owned business founded 20 years ago which now has 125 stores in the Middle East and Asia. It plans to open a further 200 by 2018, selling products sourced from its factories in China and India. Chairman and founder Firoz Merchant said Changi airport is one of the busiest and best perfo…

True Singapore retail sales slide

Singapore retail sales fell year-on-year in November, once motor vehicles are removed from the data. Government statistics show a 6.5 per cent increase in November 2014 – but remove motor vehicles from the figures and sales actually dropped 0.4 per cent year on year, and by 0.9 per cent compared with October. A 50.2 per cent increase in car sales caused the misleading statistical blip. Total retail sales in November were estimated at S$3.2 billion. By category, watches and jewellery and…

Savile Row tailor heads to Singapore

One of the most famous brands of London’s Savile Row will open a flagship store in Singapore in February. Gieves & Hawkes, a men’s tailor renowned for its quality suits, will open in Paragon shopping mall – its first standalone, company-owned store outside the UK. The 1500 sqft Singapore store will stock ready-to-wear clothing and offer personal tailoring services. The British brand will follow that up by opening its first US flagship on Madison Avenue in New York six months lat…

Chinese embrace Pasta Mania

Singapore’s largest Italian restaurant chain, PastaMania is ramping up its Chian store rollout. The chain is set to open inside Shanghai’s Raffles City Mall in downtown Huangpu District, Renming Guangchang, on February 1. Operated by Singapore-based Commonwealth Capital Group, this is the latest store within a 13-month period to expand the PastaMania footprints in Shanghai. The current flagship stores are located at strategic locations in Metro-city Mall, Xujiahui and Super Brand Mall,…

Japanese fashion chain exits Singapore

Japanese fashion brand Lowrys Farm is to close its Singapore stores. The fashion label launched in Singapore less than three years ago and now has eight stores under its own brand and one under its secondary Global Work banner. Its stores are in shopping centres, including [email protected] and Suntec City. The Global Work store is in Jurong East’s Westgate Mall. The Straits Times newspaper reports that the stores will close on February 18. The stores’ operator is Adastria Holdings wh…

Lend Lease earns Singapore safety rating

Lend Lease is the first and only mall operator in Singapore to achieve bizSafe Partner status for all its retail malls – [email protected], Parkway Parade and Jem. Created by the Workplace Safety and Health (WSH) Council, bizSafe Partner status recognises companies which have been proactive in getting their partners and associates to incorporate safety into their business models. It follows Global Minimum Requirements (GMRs) for environmental, health and safety standards that go beyond complian…

Static rents ahead for Singapore

Prime retail rental rates in Singapore have stabilised and will remain static this year. That’s the conclusion of the latest quarterly research on report on the retail property sector from international property consultant Colliers International. Colliers says demand for retail space by new start-ups or by existing retailers expanding is being matched by tenant resistance to rent increases in a what is a highly-competitive retail market, where the challenges of labour shortages and high …

More collections points for NTUC FairPrice

Singapore supermarket chain NTUC FairPrice says growing online sales have prompted it to expand the number of collection points for Click&Collect customers. The retailer now offers 22 collection points across the island. Tan Huey Ling, deputy GM (FairPrice Online) said the company constantly adapts its online offer to the evolving needs and changing lifestyles of its customers. “Following the launch of Click&Collect, we have now expanded our collection points to provide greate…

FJ Benjamin to close stores

Listed Singapore retailer FJ Benjamin says it will close some stores in Singapore and scale down others as it manages a downturn in sales. The company’s plans – of which there were no further details – were included in the first quarter financials released on New Year’s Eve. FJ Benjamin posted an improved profit despite a massive 22 per cent slump in sales. In the three months to September 30 sales totaled S$75.4 million, compared with $96 million in the same period in 2013. Gross prof…

Da Paolo Gastronomia: Everyday Italian indulgence

Paragon shopping centre on Singapore’s Orchard Rd has long been a drawcard for the city’s more discerning shoppers. Now a new eatery adds a new dimension to the upmarket mall – and a stunning example of retail design. Da Paolo Gastronomia has opened a concept store inside Paragon, which combines a takeaway meal solutions offer with a sit down cafe area. Open D Group subsidiary Retail Access was asked to design the store, intended as a pilot for roll-out in other locations in the c…

x

SUBSCRIBE
FREE NEWS BRIEFS Get breaking news delivered