The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
In June, the market’s retail sales totalled $2.43 billion in a year-on-year boost of 25.8 percent, Retail in Asia reports.
Singapore’s Department of Statistics attributed the surge to a low base; it was only until June 18 2020 that stores began reopening. E-commerce made up 15.4 percent of overall retail sales in June, a larger portion than in May due to major sales events like the Great Singapore Sale, which this year joined forces with Alibaba-owned Lazada.
Fashion and luxury were the bestsellers behind hard luxury. Watches and jewellery sales rose 78.4 percent year-on-year, department store sales increased 61.8 percent and apparel and footwear sales were up 60 percent from 2020.
Just last week, Singaporean authorities announced plans to ease Covid-19 restrictions and slowly lift border controls, marking a shift from its earlier ‘Covid Zero’ policy. Instead, ‘living with the virus’ through a mass vaccination programme could help stabilise its retail and economic recovery. Currently, 67 percent of its population has been fully vaccinated.
Learn more:
Singapore Retailers Hit Hard by Increased Covid Restrictions
The timeless appeal of the south Asian classic has gone global — and a new London exhibition shows how it has been reinvented.
The second edition of Oud Fashion Talks explored the forces transforming the Gulf’s fashion industry today, with key learnings from BoF Insights’ ‘Fashion in the Middle East’ report and from executives of local retailers, manufacturers, designers and entrepreneurs.
Accessible luxury and advanced contemporary brands in the US and Europe can expect greater competition from Australian labels expanding overseas like Camilla, Aje and Rebecca Vallance.
The Ugandan-born model how he is finding purpose in pursuing an unconventional career to support his family and the community he comes from.