Currently, more and more luxury brands tend to expand new stores in Singapore or decide to double the size of outlets in the shopping centers of the country. That will surely bring great enjoyment to fans of high-end fashion. Besides, Singapore will also be considered as an attractive destination for shopping.
Without question, as one of the most millionaire-dense areas all over the globe, Singapore has fixed itself as the icon of luxurious areas. Even if in the period of economic downturn, the number of visitors here is falling and local consumption is downing overall, its luxury retail remains a bright spot in the depressed market. Some top fashion brands including Louis Vuitton, Chanel, Hugo Boss have decided to double the size of their flagship stores here. The jeweler Tiffany & Co will also embark on renovating plans in response to current high customer traffic and sales revenue.
Singapore's main shopping center and luxurious address Orchard Road has set up over 20 plazas, and is scheduled to open a brand new one to meet the increasing demand for luxury goods. Besides, the Mandarin Gallery is expected to go into a high-end shopping and lifestyle destination. Also the country's first casinos Marina Bay Sands and Resorts World at Sentosa will surely expand their luxury sales' scale in the future time.
It seems that Singapore is ready to be the exclusive representative of luxury. This large luxury market also pushes Singapore's whole economic market upwards. I'm sure that because the overall global economy is moving towards recovery, consumers will improve their confidence of purchasing luxury items here.
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