Singapore’s crazy rich Asians are splashing out again: luxury brands, beauty and streetwear are ruling the Little Red Dot’s retail scene post-pandemic, as Christian Dior, Guerlain and Givenchy expand

Nov 9, 2022

Ion Shopping Centre, Orchard Road, Singapore. Photo: Getty Images

Despite Covid-19, luxury brands like Rolex, Chanel, Hermès and Louis Vuitton are enjoying brisk sales in Singapore … even as prices are increasing

Adidas opened its largest Singapore store in January, while Puma, Korean streetwear retailer MLB and Japanese sneaker platform Snkrdunk have all stepped up their games

Beauty, especially skincare, proved remarkably resilient during the first two years of Covid-19 in Singapore. “We will continue to see more beauty retail stores opening as Singapore welcomes more tourists,” said Sulian Tan-Wijaya, executive director of retail and lifestyle at Savills Singapore.

People wearing protective masks take a photo along an almost empty tourist attraction, Orchard Road shopping belt in April 2020, in Singapore, during the pandemic lockdown. Photo: Getty Images

Ion Orchard now houses Christian Dior’s first stand-alone facial boutique in Asia, Dior Prestige La Suite, and South Korean skincare brands The History of Whoo and Su:m37.

Tan-Wijaya said Raffles City Shopping Centre’s major revamp saw the opening of outlets from Sephora, new Anglo-French luxury fragrance house Creed and Australian beauty and wellness spa Rationale. French brands Guerlain and Givenchy Beauty will open their first stand-alone flagship boutiques in November.

Raffles City shopping centre. Photo: Handout

Having joined Savills in 2008 to set up the retail and lifestyle division, Tan-Wijaya has a front-row seat to the changing trends in these two sectors over the years. “Luxury brands performed exceptionally well during Covid-19 and continue to enjoy brisk sales even with price increases by luxury giants Chanel, Hermès and Louis Vuitton,” she said. “Rolex continues to see a worldwide shortage, and prices in the secondary market spiked up during Covid-19 due to overwhelming demand.”

She sees street fashion becoming a cultural phenomenon. Luxury giants Balenciaga and Gucci both launched collaborations with Adidas. Louis Vuitton’s Nike Air Force 1 trainers can sell for US$2,000, while Dior’s limited-edition Air Jordan 1 retailed at US$2,000 to US$2,200, Tan-Wijaya added.

The crowds returned to Orchard Road after Singapore embarked on its strategy of “living with Covid-19”, backed by one of the world’s leading vaccine programmes. Photo: AP

Working from home created a trend for casual, comfortable work wear.