Tag: Singapore

  • Liquid Pay targets 25,000 retailers in Singapore with QR code mobile payments

    Liquid Pay targets 25,000 retailers in Singapore with QR code mobile payments

    Some 25,000 retail locations in Singapore are expected to accept a new mobile payment service within the next 12 months. Liquid Pay enables consumers to make payments by scanning a QR code at the point of sale, and compare merchant discounts and rewards from within the mobile app.

    “Liquid Pay has just successfully completed trials at select hawker stalls in Bukit Timah and Tiong Bahru markets, food and beverage (F&B) outlets at One-North/Galaxis and all Spinelli Coffee Company outlets,” Liquid Pay says.

    “Deployment to 30 more hawker centres and multiple F&B chains is expected to complete before the end of the year, with the target of 25,000 acceptance points in Singapore within 12 months.”

    “By adding their credit and debit cards onto the Liquid Pay app, consumers are able to compare the various card discounts and merchant rewards when making payments,” the company adds.

    Offers and rewards

    “To pay for their purchase at checkout, consumers scan the merchant’s individual QR code at the point of sale with Liquid Pay’s QR code reader.

    “Consumers can then view the savings, offers and rewards available with different payment methods, select the most beneficial one for that particular purchase and complete their transaction.

    “Merchants accept payments via QR codes without the need to upgrade equipment or make any costly upfront investment. Merchants and banks can also deepen engagement with customers by extending dynamic, real-time, hyper-personalised promotions and offers.

    “Liquid Pay’s robust architecture also enables banks and merchants to introduce e-cards (prepaid, debit, credit, discount and gift cards) instantaneously, with contextual data analytics for deep consumer insights.”

  • Singapore’s Central Bank to Test Blockchain-Backed Digital Currency

    Singapore’s Central Bank to Test Blockchain-Backed Digital Currency

    The Monetary Authority of Singapore (MAS) will soon test how it could issue digital currency using a v-based interbank payment system.

    The planned proof-of-concept will be supported by blockchain consortium R3CEV, as well as eight banks and an unnamed local stock exchange. The Development Bank of Singapore, HSBC, Bank of America, JPMorgan, Credit Suisse and Bank of Tokyo-Mitsubishi are all said to be participating.

    In a speech on Wednesday, MAS managing director Ravi Menon said the test could come to include other central banks. Further, he credited the bank’s desire to remove cost and friction from traditional bank transactions as the motivation for the effort.

    Menon said:

    “Today, banks have to go through correspondent banks to intermediate these payments. It takes time and adds to cost. This project marks the first step in MAS’s exploration of ways to harness the potential of central bank-issued digital currency.”

    The trial would find banks depositing cash as collateral with MAS, which would then issue a digital currency to participants. The digital currency could then be exchanged among participants in the system and later redeemed for cash.

    The forthcoming trial bears similarities to a previously announced effort from UBS, Deutsche Bank, Banco Santander and startup Clearmatics in August.

    Called Utility Settlement Coin, the project envisioned how a central bank could issue digital currency that could then be redeemed for cash held by a central bank.

  • Where to shop in Singapore this Black Friday weekend

    Where to shop in Singapore this Black Friday weekend

    The post-Thanksgiving shopping tradition that’s driving many Americans off the rails at the moment is returning to Singapore this weekend with several retailers here jumping on the Black Friday bandwagon.

    For those who are still keen on shopping even after Singles Day (11 Nov), here’s where you can take advantage of Black Friday bargains in Singapore, both online and offline.

    1. Amazon

    Head on to Amazon’s website from 14 to 26 Nov if you’re looking for great bargains. Be sure to refresh their Black Friday page at 7am every day to discover new deals.

    2. Cotton On

    Now is probably the best time to restock your everyday basics as Cotton On is slashing 30 per cent off its full-priced items if you’re purchasing them online from 24 to 26 Nov. If you’d rather hit their brick-and-mortar stores, be sure to shop at the outlets at Bugis Junction, Plaza Singapura, Bedok Mall and Lot One until 28 Nov. You might walk away with a top as cheap as $10.

    3. Esprit

    Esprit is having a sale online from 24 to 27 Nov, offering 50 per cent off every second piece.

    4. Lazada

    From home appliances, health supplements to electronics, everything has been on sale on Lazada since Singles Day. Their sale ends on 12 Dec. 

    5. Robinsons

    All three Robinsons stores – The Heeren, Raffles City and Jem – will be opened from 7am on Friday (25 Nov), with up to 80 per cent discount storewide.

    6. Timberland & The North Face at Singapore Expo

    Get your adventure gear at a bargain at the Timberland and The North Face sale, happening at the Singapore Expo from 24 to 27 Nov, with discounts up to 80 per cent and 60 per cent respectively.

    7. G2000

    Need new office wear? G2000 is offering 50 per cent off your second piece. This storewide promotion will be available from 24 to 29 Nov.

    8. SaSa

    Need to shake up your beauty regime? SaSa is offering up to 70 per cent off its products storewide for outlets at Bugis Junction, Lot One and Nex shopping malls on 24 Nov. Yes, one day only.

    9. Sephora

    If you’d rather shop for beauty products from Sephora instead, the retailer is offering 20 per cent off all of their products if you buy them online on 25 Nov.

    10. New Balance

    If you’re looking for fresh New Balance kicks, head over to any of the brand’s Experience stores for 20 per cent off your purchase.

    11. Books Actually

    Here’s something for the bookworms. Homegrown books and stationery retailer BooksActually is throwing a 20 per cent off storewide sale from 24 to 25 Nov.

    12. Qoo10

    If you’re an avid Qoo10 shopper, the e-marketplace is not offering discounts, but they are giving away cart coupons priced up to $100 from 23 to 25 Nov.

    13. Shopee

    Online retail site Shopee is having a Black Friday and Cyber Monday (28 Nov) with up to 80 per cent off their items.

  • DFS Group Unveals Exclusive Pre-Launch of Bulgari Jewelry Collection in Stores Worldwide

    DFS Group Unveals Exclusive Pre-Launch of Bulgari Jewelry Collection in Stores Worldwide

    DFS Group, the world’s leading luxury travel retailer, is excited to announce the pre-launch of an exclusive BVLGARI-BVLGARI collection by Italian luxury jewelry brand Bulgari, which will be available only at DFS and T Galleria by DFS stores beginning this holiday season until October 2017. The specially created, one-of-a-kind jewelry collection includes necklaces and bracelets with signature double-sided pendants – one side featuring a Carnelian stone and the other side a Mother of Pearl. With the two contrasting sides, the pendants offer travelers a piece they can interchange according to mood, outfit or occasion.

    “We are honored to work with our long-standing partner Bulgari to present our customers with an exclusive set of one of their most iconic jewelry designs,” said Christophe Chaix, Senior Vice President Fashion, Watches, Jewelry and Accessories, DFS Group. “In the coming holiday season, we look forward to exciting our customers with a jewelry set that strongly resonates with their preferences, while elevating their gifting experience with something only DFS can offer.”

    The BVLGARI-BVLGARI collection, an emblematic favorite for over four decades, became the ambassador of Bulgari’s tradition of luxury, quality and the finest Italian design. This particular exclusive rendition of the BVLGARI-BVLGARI collection aims to excite and attract customers seeking a limited edition for the holiday season.

    The Carnelian in red on one side of the pendant symbolizes happiness and joy and is always the most popular color among Chinese shoppers. In Western culture, this color resembles an iconic Christmas color reminiscent of holly berries. On the flipside, the Mother of Pearl, symbolizing purity with a hint of feminine glamour, is one of the four imperial colors classic to the brand that magnifies the ever modern style of the BVLGARI-BVLGARI collection.

    The exclusive BVLGARI-BVLGARI line is now available at all DFS Bulgari boutiques worldwide, except in Abu Dhabi.

  • Singapore Airlines to cut 5 weekly flights to Jakarta

    Singapore Airlines to cut 5 weekly flights to Jakarta

    Singapore Airlines will cut five weekly flights to Jakarta, from Dec 1, as directed by the Indonesian civil aviation authorities, the airline said.

    SIA which has been operating 63 flights a week to and from Jakarta has been told to cut five flights a week due to runway maintenance works at Jakarta’s Soekarno-Hatta International Airport.

    The five affected flights are SQ962 and SQ963 on Mondays, Tuesdays, Wednesdays, Thursdays and Saturdays.

    SIA apologised to customers for the inconvenience and said it will progressively contact those affected to accommodate them on other flights.

    Responding to media queries, a Civil Aviation Authority of Singapore (CAAS) spokesman said the authority is aware of SIA’s plans.

    “CAAS hopes that the runway maintenance works will be completed expeditiously and that the impact on airlines will be fairly distributed,” she said.

    CAAS also hopes that the Indonesian civil aviation authorities will be able to allow Singapore Airlines to resume all 63 weekly services to Jakarta as soon as possible to reduce the impact on business travelers and tourists, who rely heavily on air services to travel between Singapore and Jakarta.

    The latest development comes several weeks after SIA said it had had to postpone plans for a thrice-weekly Singapore-Jakarta-Sydney service, which had been due to start on Nov 23.

    The Indonesian authorities had also cited runway maintenance works as the reason for withdrawing approval for the route.

  • Now you can book a cook on Singapore Airlines

    Now you can book a cook on Singapore Airlines

    It’s like dining a la carte 34,000 feet above sea level. That’s the “Book the Cook” experience that you get when you fly Singapore Airlines. It’s an exclusive advance inflight meal-ordering service that allows passengers in Suites, First Class, Business Class and Premium Economy Class to pre-select a gourmet dish of their choice before their flight.

    “It’s a departure from our regular meal service,” says Hermann Freidanck, food and beverage, inflight services manager. “You get to order your main course from a wide selection in a specially prepared menu up to 24 hours before your flight. Now you won’t have to settle for a dish that is not your choice.”

    At the exclusive meal presentation before local media recently at Singapore Airline’s new-concept Silver Kris Lounge in NAIA3, we got to experience firsthand what this was like. A couple of days before the event, we were sent a special menu to choose from, which included beef tenderloin steak, roasted rack of lamb, slow-cooked marinated duck leg with mushroom risotto, marinated free-range chicken, and baked herb-marinated salmon.

    The sit-down meal included an appetizer of marinated lobster with Mediterranean vegetable salad and balsamic dressing, as well as roasted pumpkin soup or snow fungus chicken soup with Chinese mushroom and quail egg. The salad was spinach and green frisée garnished with cherry tomatoes and olives with a choice of balsamic vinegar and extra-virgin olive oil or honey-mustard dressing, while dessert was a choice of  either chocolate and banana cake with vanilla ice cream and raspberry coulis or fresh mango tiramisu with verbena mango compote and biscotti by three-Michelin-starred chef Georges Blanc.

    As part of the Book the Cook service, passengers can choose from a menu of ICP dishes. “These are dishes created by Singapore Airline’s esteemed International Culinary Panel (ICP), which is a team of celebrated Michelin chefs who have restaurants or groups of restaurants in our main destinations in Europe, America and Asia,” Freidanck explains. “They work closely with our own chefs to develop unique dishes that we serve on board.” The panel includes Alfred Portale (United States), Carlo Cracco (Italy), Goerges Blanc (France), Matt Moran (Australia), Sanjeev Kapoor (India), Suzanne Goin (United States), Yoshihiro Murata (Japan), and Zhu Jun (China).

    “Our menus are planned four to five months ahead of time, on a four-month cycle. First Class and Business Class have four different main courses, while Premium Economy Class has a third choice in addition to the usual two choices,” Freidanck shares. “The way we do our menus is what we call ‘destination-specific.’ If you are going to Frankfurt, for example, you’ll have a German dish. In First Class and Business Class, you will always have  an ICP dish. Seasonal ingredients would also affect which dishes would be available.  The Japanese, as well as the Chinese dishes, go by the seasons. A bestseller is the Maine lobster, but not every country has it. It is difficult to get lamb, for instance, but because you can order in advance, you are guaranteed your main course.”

    “And then we have the Asian dishes. We look at the passenger profile, and if it’s predominantly Singaporean, for example, we try to put a Singaporean dish. We emphasize that we must represent the cuisine properly. It always has to be authentic. It must be traditional,” Freidanck adds. ‘There are also what we call the special meals which address certain conditions of the passenger, either due to religious beliefs, dietary or allergy restrictions. You can order them and we will serve you according to what you order. It’s not like other airlines where one menu fits all.”

    Singapore Airlines also launched a new “Deliciously Wholesome” program catering to the needs of an increasing number of health-conscious travelers.

    Preservation of freshness is an important consideration. Dishes are cooked with the reheating process in mind. “There is a fine line because we have to follow the hygiene regulations,” Freidanck explains. “Steak, for instance, has to be seared from the outside, so when it’s reheated on board, it’s just right. Sushi has to either be grilled or pickled or smoked. Nothing is raw. Oysters have to be cooked, following hygiene regulations.” Certain dishes can be a challenge. “Not impossible, but difficult,” Freidanck says. Dim sum, like pasta, does not reheat very well. The texture of risotto can be less appealing when overdone.

    The dishes are cooked in the kitchen, then kept in the chiller below 10 degrees so no bacteria can thrive, until it goes on board. The dishes are deconstructed and put into different containers. On board, it goes in the oven where the heat is calibrated to a certain temperature. “There is a training center in Singapore where the crew learn to do this. It’s very specific. There’s a lot of details which they have to go through,” Freidanck says. The crew gets a plating guide, which they must follow when they assemble the dishes.  First Class passengers get their meals served on real plates with fine cutlery.

    “Complementing Singapore Airline’s World Gourmet Cuisine is a selection of the finest wines from the very best vineyards, selected by some of the world’s most educated and sought-after palates. These wines are handpicked by world-renowned wine experts and blind-tasted under simulated cabin pressure, since our taste buds are affected by the cabin pressure,” notes Carol Ong, Singapore Airlines general manager for the Philippines, Guam and USTT. The Singapore Airlines Wine consultants include three Masters of Wine: Michael Hill-Smith, Jeannie Cho-Lee, and Oz Clarke.

    “So, you have just flown First Class, basically,” Freidanck says, addressing the intimate media group of happy diners at the end of the meal. The only thing missing was the altitude.

  • Opening delay for Apple Store Singapore

    Opening delay for Apple Store Singapore

    Apple Store Singapore is not likely to open in time for Christmas, according to an updated information board outside its site in Orchard Road.

    Outside Knightsbridge mall, the sign now shows an expected completion date of January 30 – a three-month delay.
    No reason has been offered for the delay with Singapore’s first Apple Store, and the mall’s facade is still covered by white construction hoarding and canvas.

    Tall glass structures were already in place at the construction site in July, most likely for Apple’s signature glass facade for its flagship stores.

    Work on the store started in May, and it could potentially span four floors.

  • Smith & Wollensky restaurants going global

    Smith & Wollensky restaurants going global

    US steakhouse Smith & Wollensky, famously described by the New York Times as “the steakhouse to end all arguments”, is expanding its global presence, setting its sights initially on such cities as Bangkok, Hong Kong, Seoul, Singapore, Taipei and Tokyo, as well as Dubai and Mexico City.

    This follows Irish investment company Danu Partners acquiring Smith & Wollensky Restaurant Group (SWRG) from Bunker Hill Capital this year. Its first overseas restaurant was opened in London.

    “Our teams in the US and London have worked closely together to build a robust infrastructure, and this is a perfect platform on which to build a global business,” says Leonard Ryan of Danu Partners. Joining the team will be international development executive Oliver Munday, who in the past 20 years has worked at growing US restaurant brands internationally.

    “Having completed transactions in more than 30 countries with multiple restaurant brands including Hard Rock, Margaritaville and Planet Hollywood, Oliver brings the contacts and expertise needed to allow us to reach our full potential on the international stage,” says SWRG president/CEO Michael Feighery .

    “Smith & Wollensky occupies a special place among the great US fine-dining restaurant brands, and there is global demand for such a classic American steakhouse experience,” says Munday. “We will be entertaining only a handful of select markets … but interest is already strong.”

    Since Danu Partners bought Smith & Wollensky it has embarked upon a program of reinvestment, which as well as expansion includes upgrades of its restaurants in the US.

    Established in 1977 with its headquarters in Boston, Smith & Wollensky Restaurant Group has seven locations in the US. The restaurant has received such accolades as the Grand Award of Excellence from Wine Spectator and an Award of Excellence from Distinguished Restaurants of North America.

    An investment holding company based in Dublin, Danu Investment Partners was founded in 2009 and covers a range of business sectors, with a focus on the hospitality sector.

  • Singtel expands ReadyRoam to 26 countries

    Singtel expands ReadyRoam to 26 countries

    Singtel has expanded its ReadyRoam mobile data roaming service to cover multi-destination roaming across 26 countries in Asia, Europe and North America.

    The ReadyRoam 1GB for 30 days service will allow customers to use the same pool of data while traveling between any of the supported countries.

    The base service supports roaming between 11 Asian markets – China, Hong Kong, India, Indonesia, Japan, Macau, New Zealand, the Philippines, South Korea, Taiwan and Thailand – for S$20 ($14).

    For customers traveling further afield, ReadyRoam USA and Europe supports roaming to the above countries, as well as Canada, Denmark, France, Finland, Germany, Ireland, Italy, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, the UK and the USA.

    Excess usage will be charged at S$0.019 per MB or S$0.034 per MB depending on a customer’s plan.

    “It’s the holiday season and many of our customers and their families will be traveling,” Singtel VP of mobile marketing consumer Singapore Diana Chen said.

    “Our enhanced ReadyRoam 1GB for 30 days will allow them the convenience of remaining contactable via their Singtel SIM card number while roaming seamlessly across multiple destinations.”

  • Jewel Changi Airport wins prestigious Retail Real Estate Award at MAPIC Awards 2016

    Jewel Changi Airport wins prestigious Retail Real Estate Award at MAPIC Awards 2016

    Jewel Changi Airport (Jewel), a lifestyle destination being developed in the heart of Singapore Changi Airport, has been named Best Futura Shopping Centre at MAPIC Awards 2016 in Cannes, France – a prestigious retail real estate industry event which honours the world’s most exciting and innovative retail property projects.

    Developed by Jewel Changi Airport Trustee – a joint venture between Changi Airport Group and CapitaLand Mall Asia – Jewel is a mixed-use complex featuring a wide range of lifestyle offerings including a five-storey indoor garden, unique play attractions, comprehensive shopping and dining options, a hotel, and facilities for airport operations.

    Celebrating excellence, innovation and creativity in the global retail real estate industry, the MAPIC Awards, into its 21st run, saw a total of 180 entries from 40 countries. A newly-introduced category, the Best Futura Shopping Centre award recognises upcoming retail developments with outstanding architectural qualities and strong, original concepts. Other considerations include the innovative use of materials, integration with the environment and impact on the local community. Based on these evaluation criteria, Jewel emerged winner of the inaugural accolade.

    Designed by a consortium of consultants comprising Safdie Architects led by world renowned architect Moshe Safdie, as well as Benoy and local architects RSP, Jewel features a distinctive steel and glass facade, that will house a refreshing environment of lush greenery that are integrated with facilities and attractions.

    There are two main centrepiece attractions in Jewel – the Forest Valley, a huge five-storey garden filled with thousands of trees, plants, ferns and shrubs, and the 40-metre high Rain Vortex, currently the world’s tallest indoor waterfall. The complex spans five storeys above ground and five basement storeys.

    Following the commencement of Jewel’s construction in end-2014, works on the five basement levels of the complex have been completed, and the focus going forward will be on the works above ground. Jewel is on track to open in early 2019.

    “The MAPIC Awards are one of the most prestigious accolades in the retail real estate industry and we are honoured to be a recipient this year. In developing Jewel, it is our vision to create a world-class destination that will enhance Singapore’s tourism appeal and augment Changi Airport’s position as a leading air hub in the world. With its unique features that will engage and entertain visitors, we aspire for Jewel to be a place of discovery and experiences for both local residents and international travellers. This award is a tremendous encouragement to the team and an affirmation of Jewel’s innovative design and concept,” said Ms Hung Jean, Chief Executive Officer, Jewel Changi Airport Devt.

  • Singapore Sovereign Fund Invests $136 Million in Korean Retail Complex

    Singapore Sovereign Fund Invests $136 Million in Korean Retail Complex

    Singapore’s sovereign wealth fund, GIC Real Estate Pte Ltd, has acquired GG-Square, a Seoul-based retail complex, for $136 million.

    The complex was completed in 2014 and is spread over an area of 238,248.43 square meters. It has 28 stories and is located in the heart of Anyang, a bustling metropolitan area in the southern part of Seoul. The complex is strategically located as it offers direct access to the city’s subway. Besides retail outlets, G-Square also has offices, spread over an area of 34,681 square meters.

    The complex is operated by one of the largest retail operators in South Korea, Lotte Shopping Co. However, after acquisition, it will be managed by IGIS Asset Management, a leading real estate management company in South Korea.

    GIC has been showing interest in the real estate, of late. Earlier in 2016, the sovereign wealth fund entered into an agreement with Shingsegae Inc., a South Korea-based department store franchise, to develop a retail mall based in Songdo.

  • Xiaomi Mi Mix now available via Lazada in Singapore

    Xiaomi Mi Mix now available via Lazada in Singapore

    Xiaomi Mi Mix now available via Lazada in Singapore

    Xiaomi fans in Singapore are in for a treat as the Mi Mix concept phone is now available for purchase via Lazada. Although the phone’s availability is officially limited to China, some enterprising stores like Lazada have come to the rescue of prospective smartphone buyers in the island state.

    The only caveat with the Lazada deal is that you will get just one month local-seller warranty at a premium price.

    The regular 4GB/128GB variant of Mi Mix retails at ¥3,499, which is the equivalent of S$720. In contrast, the Mi smartphone starts at S$1,278 in retail outlets across Singapore.

    On the other hand, the premium 6GB/256GB model is priced around ¥3,999 (S$820) in China and the same retails at a whopping S$1,639 in the island state.

    The all-screen and all-ceramic phone from Xiaomi definitely carries the premium looks of any eye-catchy phone in the market.

    It must be noted that the Xiaomi Singapore is not currently stocking the Mi Mix, despite featuring its official store on Lazada. So, your only option is to buy the phone through third-party importers and sellers via Lazada, which is too risky as it comes without the official hardware warranty.

     

  • Singapore amongst 20 most expensive cities for coffee

    Singapore amongst 20 most expensive cities for coffee

    Online office supply company Service Partner ONE have released the 2016 Coffee Price Index, detailing which cities offer the best value coffee worldwide. The research, which took into account 75 cities from 36 countries across the globe, found that Rio de Janeiro, Brazil offers the least expensive average coffee price, whilst Zurich, Switzerland was the most expensive city researched.

    To create the ranking, the research team averaged the cost of four separate types of coffee: a cup of coffee in an office, a Grande Latte from Starbucks, a medium cappuccino from an independent coffee shop, and a cup of coffee at home. The research looks into costs of coffee from various sources, not just high street outlets, in order to get a clearer picture of the overall value of coffee in each city.

    Singapore is ranked 20th most expensive city for coffee with coffee priced at $2.33(S$3.30) per cup. This compares to Zurich which came in as the most expensive city overall, at an average of $3.52 (S$5), and Rio de Janeiro where coffee was the most affordable, with an average of $1.02 ($1.44).

    In Asian ranking, Hong Kong emerged as the priciest city for coffee. It is ranked 6th in the global ranking with coffee costing $2.88 (S$4.08) per cup.

  • Victoria’s Secret opens South-east Asian flagship

    Victoria’s Secret opens South-east Asian flagship

    American lingerie brand Victoria’s Secret opened its first South-east Asian flagship store – a head-turning pink glass confection – at Mandarin Gallery yesterday.

    First in the queue of about 100 shoppers were mother-and-daughter duo Mandy Lo, an office administrator in her 40s, and Hazel Goh, 19, a student.

    While they had been waiting for only 30 minutes, the arrival of the flagship was a long time coming for Ms Goh, a loyal customer since she was 13. She had been ordering the label’s lingerie, fragrances and accessories online for several years.

    She and her mother bought $500 worth of underwear, bras and a windbreaker, amid thumping music, flashing video screens, oversized chandeliers and elaborate table displays of lingerie-clad mannequins.

    She says the store met most of her expectations. “It’s pretty awesome. I was expecting everything, but I couldn’t find certain designs of bras and underwear that I wanted, but the Pink range here is better than online.”

    The Victoria’s Secret Pink range is a line of underwear, clothes and accessories targeted at women in their late teens and early 20s.

    Another excited shopper was Australian tourist Jane Fitzgerild, 46. The chef had walked past Mandarin Gallery on Thursday and noticed the store.

    She returned yesterday with her husband to buy bras. She says: “I’ve never been to any of the brand’s flagships. I’m a big fan and I like its quality and assortment of products.”

    Opening the 12,000 sq ft duplex store in Orchard Road, amid a weak retail market, may seem like a risk, but Singapore Polytechnic senior retail lecturer Sarah Lim thinks this is a savvy move by retail group Valiram, which distributes the brand here.

    Ms Lim says: “Victoria’s Secret is differentiated from other lingerie brands such as La Senza and Triumph because of its glamorous image. For consumers, it is a good move because, now, they can shop from the brand’s full range. The store also adds excitement to the retail scene.”

    Singapore is the first Asian territory, apart from the Middle East, to have the full assortment.

    The brand was founded in 1977 by the late Roy Raymond after he felt embarrassed purchasing lingerie for his wife in a department store.

    In 1982, Victoria’s Secret was acquired by American fashion retailer L Brands, which made US$12.7 billion (S$18.11 billion) in sales last year, up from US$11.5 billion the previous year.

    There are more than 1,600 Victoria’s Secret stores worldwide.

    The brand is most famous for its high-octane annual Victoria’s Secret Fashion Show, which started in 1995 and features supermodels such as Adriana Lima and Alessandra Ambrosio and also top performers, including American pop stars Taylor Swift and Rihanna.

    Similar to the stores in the United States, the Singapore flagship sells the full assortment, including the Victoria Sport and Victoria’s Secret Pink lines. This is a fuller spectrum than the fragrances, accessories and women’s underwear now offered at the brand’s seven stores in Singapore, including outlets at 313@Somerset and Wisma Atria.

    Prices range from $19 for a lipgloss to about $800 for a silk robe from the Victoria’s Secret Designer collection. New designs will be available every two to six weeks.

    At the flagship, there are 12 bra specialists, who advise customers on the product lines and styles, and know how to do bra measurements.

    In each of the 24 luxurious fitting rooms is a call button, should shoppers need help from a specialist.

    Ms Ema Negara, assistant vice- president of Victoria’s Secret store operations in Singapore, says having specialists who can empathise with customers is important.

    According to her, about 90 per cent of women take bras in the wrong size to the fitting room and some walk out upset.

    She says: “Our motto is to make women feel sexy, sophisticated and forever young.”

     

  • GIC snaps up a Korean shopping mall

    GIC snaps up a Korean shopping mall

    It invested $192.4m in the 28-floor retail complex. Singapore’s state-owned investment firm GIC invested $192.4m (USD 136m) in G-Square City Retail Complex in Seoul Korea.

    Tha complex, which was completed in 2012, spans 238,248 sqm across 8 floors. The building is well-situated in a prime location in the centre of Anyang City, a metropolitan area of Southern Seoul. It has a direct access to a subway line.

    “A 34,681 sqm office tower is also part of the complex, and is one of the preferred office buildings within the Anyang city district given its landmark status and building quality,” GIC said.

    The said mall is operated by Lotte Shopping Co. With the aquisition, it will be managed by IGIS Asset Management, one of the country’s largest real estate management companies with a good track record of managing retail assets.

    GIC Real Estate Chief Investment Officer Lee Kok Sun said G-Square is in line with the group’s strategy of acquiring income-generating assets.

    “As a long-term investor, we remain confident in the continued growth of the Korean economy and its retail sector,” Lee said.

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