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The lowdown on high style - it's big bucks

The lowdown on high style - it's big bucks Next week's Singapore Fashion Festival to push city as luxury spending haven.
Uma Shankari

Sat, Mar 22, 2008
The Business Times

(SINGAPORE) The idea is ambitious: When you think of shopping for high-end fashion apparel in Asia, think Singapore. Starting next Friday, the Singapore Fashion Festival (SFF) returns to dazzle and convince the sceptics - with the latest edition touted as the biggest in its eight-year history.

Mall operators, retailers and the Singapore Tourism Board (STB) have all been trying to entice locals and tourists to increase their fashion spending here. 'For years, serious shoppers would head to Hong Kong or Tokyo to buy branded goods,' said a retailer who runs the franchise of one high-end fashion label here. 'But now Singapore is catching up, although it has some way to go.'

Luxury fashion labels here report that sales have grown at a fast clip over the past few years.

A spokeswoman for Paragon Shopping Centre, which is home to a slew of high-end fashion boutiques, said that sales at these boutiques have been growing strongly year on year. Hermes Singapore also told BT that sales have grown over the past three years.

Similarly, American Express (AmEx) said that overall spending on high fashion on its cards grew by over 20 per cent in 2007.

'Among AmEx cardmembers, we noticed a phenomenal growth of Singaporeans' appetite for luxury goods, including high fashion,' said Shailesh Baidwan, a vice-president at AmEx. 'Growth in spending for high fashion peaked at 34 per cent in Q2 last year.'

And unlike a few years ago, when growth in high fashion spending came mostly from tourists, more locals are now buying as well. 'Local business has been increasing,' said a spokeswoman for Louis Vuitton Singapore.

Locals, she said, now account for a larger proportion of total sales at Louis Vuitton boutiques than they did a few years ago. But the tourist business still accounts for a larger chunk of sales, she said.

Mall operators and retailers are adding onto the number of high-fashion boutiques here. The two upcoming integrated resorts are expected to have a good representation of international luxury labels.

And upcoming mall Ion Orchard will feature six double-storey flagship stores with 11-m-tall storefronts - a first for Singapore. Luxury brands Cartier, Christian Dior, Dolce & Gabbana, Giorgio Armani, Louis Vuitton and Prada will each occupy one of these coveted boutiques.

The presence of the duplex boutiques will 'cement Singapore and Orchard Road's position as one of the top shopping destinations in the world, alongside the ranks of Fifth Avenue, Champs-elysees, Ginza and Bond Street', Ion Orchard hopes.

Events such as the SFF, which is a fashion event targeted at the retail shopper, are also expected to drum up more interest in high-end fashion offerings here.

Last year's SFF saw more than 100 designers from over 10 countries participating. Some 40,000-odd people attended the 25 shows at The Tent and fringe events at malls.

STB said that this year's festival is the biggest in terms of international designer and model appearances in the festival's eight-year history.

This year's festival plays host to two world-class fashion designers - celebrity designer Matthew Williamson and Kevin Carrigan, creative director of cK Calvin Klein.

But perhaps closer to the hearts of Singaporeans will be a show marking the 150th anniversary of Robinson, one of Singapore's most beloved retail icons.

Robinson first opened its doors as a family warehouse at Raffles Place in February 1858. In its 150-year history, the company has seen many significant milestones - including active support to the Allied troops during World War II.

At next week's SFF, the retailer will juxtapose 150 years of its remarkable history with its latest spring collection.

This article was first published in The Business Times on Mar 22, 2008.

 
   
 
 
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