After the downturn seen between 2015 and 2017 due to slow economic growth, designer apparel and footwear (ready-to-wear) has seen a recovery in 2018 thanks to increased spending by affluent Chinese consumers. Growth has also benefited the Singapore Tourism Board and Economic Development Board’s campaign “Passion Made Possible”.
Designer apparel and footwear (ready-to-wear) is also benefiting from investments by key players in bringing experiential luxury to their stores to help boost sales and build brand loyalty. Ralph Lauren Polo, for example, opened its first Polo flagship store in Shaw Center in 2017 with it offering a wide range of Polo shirts, shoes, accessories and leather goods spread across 8,246 square feet.
Pop-up stores have become an increasingly common feature of Singapore’s retail landscape with designer brands using these temporary outlets to promote new collections and generate interest and excitement. For example, Designer Collective by MAH is a quarterly pop-up event that showcases both local and international brands with food and drinks also available from this pop-up to help engage with consumers.
Despite seeing a decline in current value terms, Burberry retained the leading position in designer apparel and footwear (ready-to-wear) in 2017. After a difficult couple of years towards the end of the review period Burberry is focused on developing its digital marketing, e-commerce and pricing as it looks to recover.
As a shopping hub in Asia Pacific, Singapore attracts many luxury brands looking to invest in new stores, store displays and marketing campaigns. The tight competition has led to the fragmented nature of designer apparel and footwear (ready-to-wear) with no brand holding a value share greater than 4% as of 2017.
A large number of the leading brands in designer apparel and footwear (ready-to-wear) witnessed a decline in current value terms in 2017 due to the economic slowdown seen in Singapore and the region in general. However, one leading player which did record growth was Ralph Lauren (Singapore) Pte Ltd.
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Discover the latest market trends and uncover sources of future market growth for the Designer Apparel and Footwear (Ready-to-Wear) industry in Singapore with research from Euromonitor's team of in-country analysts.
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