International fashion brands set to storm Singapore's retail market

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The latest quarterly report by Colliers International revealed that the retail property market in Singapore is set for a stable year in 2014.

The first quarter of the year saw prime retail rents being supported by continued openings of local and international brands, initial signs of improving consumer sentiments, as well as a steadily-growing tourism industry, as Singapore cements its status as a major regional city.

On the shop space front, international lifestyle and fashion brands are establishing or expanding their presence in reputable malls or premier locations in Singapore, whenever opportunities arise.

For instance, fashion brand, H&M, re-opened its largest flagship store in Southeast Asia at Grange Road in January, expanding from three levels to four, spanning 42,000 sq ft. Christian Dior Parfums opened one new boutique at Ion Orchard and another at The Shoppes at Marina Bay Sands in February; of which the latter 1,550 sq ft boutique is the brand’s largest in Singapore.

Other upcoming openings included New York-based brand, Alice + Olivia by Stacey Bendet, which will open a 1,500 sq ft boutique at Ion Orchard – its first Southeast Asia store; American fashion label, Proenza Schouler, which will take up 1,250 sq ft of space at The Shoppes at Marina Bay Sands; and Metro, which took over from Robinsons to be the anchor tenant of The Centrepoint, at 130,000 sq ft of retail space spanning across six levels.

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